Argan, Inc. (NYSE:AGX) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 18.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 480,658 shares of the construction company's stock after purchasing an additional 73,654 shares during the quarter. American Century Companies Inc. owned 3.54% of Argan worth $65,869,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AGX. 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 buying an additional 68 shares during the period. 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 worth $1,446,000 after acquiring an additional 133 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Argan during the 4th quarter valued at about $26,000. Farther Finance Advisors LLC purchased a new position in shares of Argan in the 4th quarter valued at about $32,000. Finally, Global Retirement Partners LLC acquired a new position in Argan in the 4th quarter worth about $35,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Richard H. Deily sold 2,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 9,367 shares of the company's stock, valued at approximately $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter W. Getsinger sold 800 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $155.24, for a total transaction of $124,192.00. Following the sale, the director now directly owns 19,177 shares of the company's stock, valued at approximately $2,977,037.48. This represents a 4.00 % 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 valued at $1,644,859 in the last 90 days. 11.85% of the stock is owned by insiders.

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Argan Stock Performance

Shares of AGX traded up $23.58 during mid-day trading on Friday, hitting $138.81. 1,399,441 shares of the company were exchanged, compared to its average volume of 274,921. Argan, Inc. has a 1-year low of $48.85 and a 1-year high of $191.46. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 29.04 and a beta of 0.58. The company has a 50 day moving average of $136.07 and a 200-day moving average of $134.76.

Argan (NYSE:AGX - Get Free Report) last released its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business had revenue of $232.47 million for the quarter, compared to the consensus estimate of $197.50 million. The company's revenue for the quarter was up 41.3% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several analysts have commented on AGX shares. CJS Securities reissued a "market perform" rating and issued a $150.00 price objective on shares of Argan in a report on Friday, December 6th. Lake Street Capital raised shares of Argan from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a research note on Friday.

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.