Argan, Inc. (NYSE:AGX) Stock Holdings Decreased by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 59.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,356 shares of the construction company's stock after selling 12,315 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.06% of Argan worth $1,096,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. City Center Advisors LLC acquired a new stake in shares of Argan during the first quarter worth approximately $223,000. American Century Companies Inc. lifted its stake in Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock valued at $65,869,000 after acquiring an additional 73,654 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Argan by 26.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,977 shares of the construction company's stock valued at $522,000 after acquiring an additional 839 shares during the last quarter. GAMMA Investing LLC lifted its stake in Argan by 11,180.0% in the first quarter. GAMMA Investing LLC now owns 5,640 shares of the construction company's stock valued at $7,400,000 after acquiring an additional 5,590 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Argan by 28.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock valued at $2,400,000 after acquiring an additional 3,880 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Argan

In other Argan news, Director Cynthia Flanders sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $220.47, for a total transaction of $3,307,050.00. Following the completion of the sale, the director owned 33,428 shares of the company's stock, valued at $7,369,871.16. This trade represents a 30.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James W. Quinn sold 40,000 shares of Argan stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $207.92, for a total value of $8,316,800.00. Following the sale, the director directly owned 16,557 shares of the company's stock, valued at $3,442,531.44. This represents a 70.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,404 shares of company stock worth $18,946,537 in the last quarter. Company insiders own 6.69% of the company's stock.

Argan Stock Performance

AGX opened at $212.40 on Monday. The firm's 50-day simple moving average is $203.45 and its 200-day simple moving average is $162.63. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 29.79 and a beta of 0.54. Argan, Inc. has a twelve month low of $63.53 and a twelve month high of $246.60.

Argan (NYSE:AGX - Get Free Report) last released its earnings results on Wednesday, June 4th. The construction company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.51. Argan had a net margin of 11.00% and a return on equity of 29.61%. The company had revenue of $193.66 million for the quarter, compared to the consensus estimate of $193.75 million. During the same period in the prior year, the company posted $0.58 EPS. The company's revenue was up 22.8% compared to the same quarter last year.

Argan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 23rd will be paid a dividend of $0.375 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $1.50 dividend on an annualized basis and a yield of 0.71%. Argan's payout ratio is 21.04%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AGX shares. Kepler Capital Markets cut shares of Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Lake Street Capital boosted their target price on shares of Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th.

Argan Company 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.

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