Teacher Retirement System of Texas Has $2.83 Million Position in Argan, Inc. (NYSE:AGX)

Teacher Retirement System of Texas lessened its stake in shares of Argan, Inc. (NYSE:AGX) by 40.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,671 shares of the construction company’s stock after selling 14,034 shares during the period. Teacher Retirement System of Texas owned 0.15% of Argan worth $2,833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Argan by 81.8% in the third quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock worth $92,408,000 after purchasing an additional 409,948 shares during the period. Bank of New York Mellon Corp grew its stake in Argan by 80.3% during the fourth quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company’s stock worth $25,549,000 after buying an additional 83,039 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Argan in the 3rd quarter valued at about $6,687,000. WCM Investment Management LLC acquired a new position in shares of Argan in the 4th quarter valued at approximately $8,241,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Argan during the 4th quarter worth approximately $8,002,000. 79.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling at Argan

In other Argan news, CFO Richard H. Deily sold 2,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value 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 trade represents a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter W. Getsinger sold 7,385 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total value of $1,220,666.65. Following the sale, the director now owns 11,792 shares in the company, valued at approximately $1,949,099.68. This trade represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,185 shares of company stock worth $1,644,859 over the last quarter. Corporate insiders own 11.85% of the company’s stock.

Argan Trading Down 1.6 %

Shares of Argan stock opened at $127.18 on Wednesday. The firm’s 50 day moving average is $139.16 and its 200 day moving average is $134.37. The firm has a market capitalization of $1.73 billion, a PE ratio of 26.61 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 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.