Argan, Inc. (NYSE:AGX) Position Cut by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of Argan, Inc. (NYSE:AGX - Free Report) by 72.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,371 shares of the construction company's stock after selling 89,745 shares during the quarter. Russell Investments Group Ltd. owned about 0.25% of Argan worth $4,710,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in shares of Argan by 18.1% during the 4th quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after purchasing an additional 73,654 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of 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 in the last quarter. Principal Financial Group Inc. purchased a new stake in Argan during the 3rd quarter worth $1,373,000. Victory Capital Management Inc. raised its position 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 purchasing an additional 3,880 shares during the period. Finally, Intech Investment Management LLC boosted its position in shares of Argan by 95.7% in the fourth quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after buying an additional 3,199 shares during the period. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital upgraded shares of Argan from a "hold" rating to a "buy" rating and set a $150.00 price objective on the stock in a research note on Friday, March 28th.

Insider Buying and Selling

In other news, Director Peter W. Getsinger sold 5,000 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total value of $725,150.00. Following the transaction, the director now directly owns 11,496 shares in the company, valued at approximately $1,667,264.88. This trade represents a 30.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.85% of the stock is currently owned by company insiders.

Argan Trading Down 1.7 %

NYSE AGX traded down $2.53 during mid-day trading on Friday, reaching $146.19. 686,844 shares of the company's stock traded hands, compared to its average volume of 295,085. The company has a fifty day simple moving average of $130.66 and a 200-day simple moving average of $138.90. Argan, Inc. has a 1-year low of $59.89 and a 1-year high of $191.46. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 30.58 and a beta of 0.45.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share 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%. The firm's quarterly revenue was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's dividend payout ratio is currently 24.55%.

Argan 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.