Argan, Inc. (NYSE:AGX) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its position in Argan, Inc. (NYSE:AGX - Free Report) by 40.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,671 shares of the construction company's stock after selling 14,034 shares during the period. Teacher Retirement System of Texas owned about 0.15% of Argan worth $2,833,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AGX. Spire Wealth Management acquired a new position in Argan during the fourth quarter worth $26,000. Farther Finance Advisors LLC acquired a new position in shares of Argan during the 4th quarter worth about $32,000. Global Retirement Partners LLC purchased a new position in Argan in the 4th quarter valued at about $35,000. Truvestments Capital LLC purchased a new position in Argan in the 4th quarter valued at about $57,000. Finally, KBC Group NV acquired a new stake in Argan in the 4th quarter worth about $93,000. Institutional investors and hedge funds own 79.43% of the company's stock.

Argan Stock Up 20.5 %

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

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

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Wall Street Analysts Forecast Growth

AGX has been the subject of several research reports. Lake Street Capital raised Argan from a "hold" rating to a "buy" rating and set a $150.00 price objective for the company in a research note on Friday. CJS Securities reaffirmed a "market perform" rating and set a $150.00 target price on shares of Argan in a report on Friday, December 6th.

Insider Activity

In other Argan news, Director Peter W. Getsinger sold 800 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the sale, the director now owns 19,177 shares of the company's stock, valued at $2,977,037.48. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 9,367 shares in the company, valued at $1,405,050. This represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,185 shares of company stock valued at $1,644,859. 11.85% of the stock is currently owned by insiders.

Argan Profile

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.