American Century Companies Inc. Buys 73,658 Shares of Argan, Inc. (NYSE:AGX)

American Century Companies Inc. lifted its position in Argan, Inc. (NYSE:AGX) by 31.8% during the second quarter, HoldingsChannel.com reports. The fund owned 305,298 shares of the construction company’s stock after purchasing an additional 73,658 shares during the period. American Century Companies Inc.’s holdings in Argan were worth $22,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Argan in the first quarter valued at approximately $95,000. Quest Partners LLC grew its holdings in shares of Argan by 3,321.4% in the 2nd quarter. Quest Partners LLC now owns 1,916 shares of the construction company’s stock valued at $140,000 after buying an additional 1,860 shares during the period. CWM LLC increased its position in shares of Argan by 84.6% in the 2nd quarter. CWM LLC now owns 2,457 shares of the construction company’s stock valued at $180,000 after buying an additional 1,126 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Argan during the 2nd quarter worth $251,000. Finally, Arizona State Retirement System bought a new position in Argan during the second quarter worth about $258,000. Institutional investors own 79.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AGX shares. StockNews.com downgraded Argan from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th. Lake Street Capital boosted their price objective on Argan from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, June 7th.

Insider Transactions at Argan

In other news, Director Rainer H. Bosselmann sold 25,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $71.52, for a total value of $1,788,000.00. Following the sale, the director now owns 273,916 shares of the company’s stock, valued at $19,590,472.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Rainer H. Bosselmann sold 25,000 shares of Argan stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $71.52, for a total value of $1,788,000.00. Following the sale, the director now owns 273,916 shares of the company’s stock, valued at $19,590,472.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter W. Getsinger sold 1,405 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $78.36, for a total value of $110,095.80. Following the sale, the director now owns 13,000 shares in the company, valued at approximately $1,018,680. The disclosure for this sale can be found here. Insiders sold 83,539 shares of company stock valued at $6,341,435 in the last ninety days. 11.85% of the stock is currently owned by corporate insiders.

Argan Stock Up 7.5 %

Shares of NYSE:AGX opened at $95.05 on Friday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 33.83 and a beta of 0.51. Argan, Inc. has a 12 month low of $39.74 and a 12 month high of $95.73. The company’s fifty day simple moving average is $77.71 and its 200 day simple moving average is $68.00.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.34. Argan had a return on equity of 14.80% and a net margin of 6.11%. The company had revenue of $227.02 million during the quarter, compared to analysts’ expectations of $191.05 million. Argan’s quarterly revenue was up 60.6% compared to the same quarter last year.

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.