WCM Investment Management LLC Invests $8.24 Million in Argan, Inc. (NYSE:AGX)

WCM Investment Management LLC purchased a new stake in shares of Argan, Inc. (NYSE:AGX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 59,320 shares of the construction company's stock, valued at approximately $8,241,000. WCM Investment Management LLC owned approximately 0.44% of Argan at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Argan by 81.8% during the third quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company's stock valued at $92,408,000 after buying an additional 409,948 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Argan during the third quarter valued at $6,687,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Argan by 72.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company's stock valued at $11,586,000 after buying an additional 47,881 shares during the last quarter. Sapient Capital LLC purchased a new stake in shares of Argan during the third quarter valued at $4,783,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Argan by 283.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 57,536 shares of the construction company's stock valued at $5,836,000 after buying an additional 42,527 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com cut Argan from a "buy" rating to a "hold" rating in a research report on Tuesday, October 29th. Lake Street Capital cut Argan from a "buy" rating to a "hold" rating and increased their price objective for the company from $85.00 to $150.00 in a research report on Tuesday, December 3rd. Finally, CJS Securities reaffirmed a "market perform" rating and set a $150.00 price objective on shares of Argan in a research report on Friday, December 6th.

Insider Transactions at Argan

In other news, CEO David Hibbert Watson sold 10,000 shares of Argan stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $146.05, for a total transaction of $1,460,500.00. Following the transaction, the chief executive officer now owns 51,291 shares in the company, valued at $7,491,050.55. This trade represents a 16.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter W. Getsinger sold 800 shares of the firm's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $155.24, for a total transaction of $124,192.00. Following the sale, the director now owns 19,177 shares in the company, valued at $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,185 shares of company stock worth $3,105,359 in the last 90 days. 11.85% of the stock is currently owned by insiders.

Argan Trading Down 0.6 %

AGX stock traded down $0.96 during midday trading on Thursday, reaching $148.37. 268,681 shares of the company's stock traded hands, compared to its average volume of 516,929. Argan, Inc. has a 52-week low of $45.57 and a 52-week high of $191.46. The stock has a market cap of $2.01 billion, a P/E ratio of 31.04 and a beta of 0.56. The stock's 50-day moving average is $150.80 and its 200 day moving average is $123.31.

Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.74. The business had revenue of $257.00 million for the quarter, compared to analysts' expectations of $225.60 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The business's quarterly revenue was up 56.9% compared to the same quarter last year.

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, January 23rd. Argan's dividend payout ratio is presently 31.38%.

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.