Argan, Inc. (NYSE:AGX) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,683 shares of the construction company's stock after selling 2,420 shares during the quarter. Sterling Capital Management LLC's holdings in Argan were worth $642,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AGX. Spire Wealth Management purchased a new stake in Argan during the fourth quarter worth $26,000. Farther Finance Advisors LLC bought a new position in Argan in the fourth quarter worth about $32,000. Global Retirement Partners LLC bought a new stake in shares of Argan in the 4th quarter valued at about $35,000. Truvestments Capital LLC purchased a new position in shares of Argan in the 4th quarter worth approximately $57,000. Finally, Federated Hermes Inc. lifted its position in Argan by 1,123.5% during the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock valued at $57,000 after acquiring an additional 382 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

Insider Activity at Argan

In other Argan news, Director Peter W. Getsinger sold 2,292 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $150.35, for a total value of $344,602.20. Following the sale, the director now directly owns 9,500 shares of the company's stock, valued at approximately $1,428,325. This trade represents a 19.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.85% of the company's stock.

Analysts Set New Price Targets

Separately, Lake Street Capital upgraded 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 Down 12.5 %

Shares of Argan stock traded down $18.20 during midday trading on Monday, hitting $127.80. The company had a trading volume of 349,897 shares, compared to its average volume of 296,830. The company has a fifty day simple moving average of $130.57 and a 200 day simple moving average of $139.72. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 26.74 and a beta of 0.45. Argan, Inc. has a 12-month low of $60.03 and a 12-month high of $191.46.

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

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Tuesday, April 22nd. Argan's dividend payout ratio (DPR) is 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.