Farther Finance Advisors LLC Makes New $32,000 Investment in Argan, Inc. (NYSE:AGX)

Farther Finance Advisors LLC bought a new stake in shares of Argan, Inc. (NYSE:AGX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 230 shares of the construction company’s stock, valued at approximately $32,000.

Other hedge funds also recently modified their holdings of the company. Amundi grew its position in Argan by 8.6% during the fourth quarter. Amundi now owns 859 shares of the construction company’s stock valued at $118,000 after purchasing an additional 68 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Argan by 1.3% during the 4th quarter. Savant Capital LLC now owns 10,552 shares of the construction company’s stock valued at $1,446,000 after buying an additional 133 shares during the period. Spire Wealth Management purchased a new position in shares of Argan during the 4th quarter valued at $26,000. Global Retirement Partners LLC purchased a new position in shares of Argan during the 4th quarter valued at $35,000. Finally, Arizona State Retirement System increased its stake in shares of Argan by 7.2% in the fourth quarter. Arizona State Retirement System now owns 3,917 shares of the construction company’s stock worth $537,000 after acquiring an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Insider Buying and Selling at Argan

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the transaction, the director now owns 11,792 shares in the company, valued at $1,949,099.68. This trade represents a 38.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,367 shares in the company, valued at approximately $1,405,050. This represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,185 shares of company stock worth $1,644,859 over the last three months. Corporate insiders own 11.85% of the company’s stock.

Argan Trading Up 7.2 %

Argan stock opened at $129.26 on Tuesday. The company has a market capitalization of $1.75 billion, a P/E ratio of 27.04 and a beta of 0.58. Argan, Inc. has a 1-year low of $48.85 and a 1-year high of $191.46. The firm’s fifty day simple moving average is $139.97 and its 200-day simple moving average is $134.11.

Analyst Ratings Changes

AGX has been the subject of a number of research reports. CJS Securities reissued a “market perform” rating and set a $150.00 price objective on shares of Argan in a research report on Friday, December 6th. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and boosted their price target for the company from $85.00 to $150.00 in a research note on Tuesday, December 3rd.

About Argan

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.