Wellington Management Group LLP Sells 281,889 Shares of Argan, Inc. (NYSE:AGX)

Wellington Management Group LLP reduced its position in Argan, Inc. (NYSE:AGX - Free Report) by 30.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 629,167 shares of the construction company's stock after selling 281,889 shares during the quarter. Wellington Management Group LLP owned about 4.64% of Argan worth $86,221,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AGX. American Century Companies Inc. increased its stake in shares of Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after buying an additional 73,654 shares during the period. JPMorgan Chase & Co. lifted its stake in Argan by 70.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company's stock valued at $3,836,000 after acquiring an additional 15,681 shares during the period. Principal Financial Group Inc. bought a new position in Argan during the 3rd quarter valued at about $1,373,000. Victory Capital Management Inc. lifted its stake in Argan by 28.5% during the 4th 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 period. Finally, Intech Investment Management LLC lifted its stake in shares of Argan by 95.7% in the 4th quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after purchasing an additional 3,199 shares during the period. 79.43% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Argan

In other news, Director Peter W. Getsinger sold 7,385 shares of Argan stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.85% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised shares of Argan from a "hold" rating to a "buy" rating and set a $150.00 price objective for the company in a report on Friday, March 28th.

Argan Stock Performance

NYSE AGX traded down $4.31 on Thursday, hitting $137.68. 64,902 shares of the stock were exchanged, compared to its average volume of 288,420. The stock has a fifty day moving average price of $130.96 and a two-hundred day moving average price of $137.22. The firm has a market capitalization of $1.88 billion, a P/E ratio of 28.91 and a beta of 0.45. Argan, Inc. has a 52-week low of $48.85 and a 52-week high of $191.46.

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

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.