Teacher Retirement System of Texas Sells 14,034 Shares of Argan, Inc. (NYSE:AGX)

Teacher Retirement System of Texas trimmed its stake in shares of Argan, Inc. (NYSE:AGX) by 40.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 20,671 shares of the construction company’s stock after selling 14,034 shares during the quarter. Teacher Retirement System of Texas’ holdings in Argan were worth $2,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AGX. Spire Wealth Management bought a new position in Argan during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC bought a new position in Argan during the fourth quarter worth $32,000. Global Retirement Partners LLC bought a new position in Argan during the fourth quarter worth $35,000. Truvestments Capital LLC acquired a new position in Argan in the fourth quarter valued at $57,000. Finally, KBC Group NV bought a new stake in Argan during the fourth quarter valued at $93,000. 79.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AGX has been the subject of several research analyst reports. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd. CJS Securities reiterated a “market perform” rating and issued a $150.00 target price on shares of Argan in a report on Friday, December 6th.

Insider Activity at Argan

In other Argan news, CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 7,385 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 11,792 shares in the company, valued at $1,949,099.68. The trade was a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,185 shares of company stock valued at $1,644,859 in the last three months. Corporate insiders own 11.85% of the company’s stock.

Argan Trading Down 1.6 %

AGX opened at $127.18 on Wednesday. The company has a fifty day moving average price of $139.16 and a two-hundred day moving average price of $134.37. Argan, Inc. has a 1-year low of $48.85 and a 1-year high of $191.46. The company has a market cap of $1.73 billion, a P/E ratio of 26.61 and a beta of 0.58.

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.