SEC Form SC 13G/A filed by Argan Inc. (Amendment)

1/30/24 12:38:53 PM ET

Engineering & Construction

Consumer Discretionary

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SC 13G/A 1 agx.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G/A UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 5) Argan, Inc. ------------------------------------ (Name of Issuer) Common Stock ------------------------------------ (Title of Class of Securities) 04010E109 -------------------- (CUSIP Number) December 31, 2023 ------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). PAGE 1 OF 4 PAGES -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON River Road Asset Management, LLC 43-2076925 -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] N/A -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 1,065,286 NUMBER OF ----------------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 EACH ----------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 1,109,515 ----------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,109,515 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.3% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IA -------------------------------------------------------------------------------- PAGE 2 OF 4 PAGES Item 1(a) Name of Issuer: Argan, Inc. Item 1(b) Address of Issuer's Principal Executive Offices: One Church Street, Suite 201 Rockville, MD 20850 Item 2(a) Name of Person Filing: River Road Asset Management, LLC Item 2(b) Address of the Principal Office or, if none, Residence: 462 S. 4th St., Ste 2000 Louisville, KY 40202 Item 2(c) Citizenship: US -- State of Delaware Item 2(d) Title of Class of Securities: Common Stock Item 2(e) CUSIP Number: 04010E109 Item 3 If the Statement is being filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (e) [X] An investment advisor in accordance with section 240.13d-1(b)(1)(ii)(E) Item 4 Ownership: (a) Amount Beneficially Owned: 1,109,515 (b) Percent of Class: 8.3% PAGE 3 OF 4 PAGES (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 1,065,286 (ii) shared power to vote or direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 1,109,515 (iv) shared power to dispose or to direct the disposition of: 0 Item 5 Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Item 6 Ownership of More than Five Percent on Behalf of Another Person: Not applicable. Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company: Not applicable. Item 8 Identification and Classification of Members of the Group: Not applicable. Item 9 Notice of Dissolution of a Group: Not applicable. Item 10 Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of such securities and were were not acquired in connection with or as a participant in any transaction having such purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 30, 2024 River Road Asset Management, LLC By: /S/ THOMAS DIGNAN MUELLER ------------------------------------- Name: Thomas Dignan Mueller Title: CCO/COO PAGE 4 OF 4 PAGES

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Date	Price Target	Rating	Analyst
3/28/2025	$150.00	Hold → Buy	Lake Street
12/3/2024	$85.00 → $150.00	Buy → Hold	Lake Street

SEC Form SC 13G/A filed by Argan Inc. (Amendment)

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Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Flanders Cynthia bought $257,955 worth of shares (8,500 units at $30.35) and sold $322,000 worth of shares (7,000 units at $46.00), increasing direct ownership by 10% to 16,500 units (SEC Form 4)

SEC Form SC 13G/A filed by Argan Inc. (Amendment)

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Recent Analyst Ratings for $AGX

$AGX Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Flanders Cynthia bought $257,955 worth of shares (8,500 units at $30.35) and sold $322,000 worth of shares (7,000 units at $46.00), increasing direct ownership by 10% to 16,500 units (SEC Form 4)

Recent Analyst Ratings for
$AGX

$AGX
Insider Purchases