Dimensional Fund Advisors LP Sells 66,901 Shares of Argan, Inc. (NYSE:AGX)

Dimensional Fund Advisors LP decreased its stake in Argan, Inc. (NYSE:AGX - Free Report) by 10.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 577,938 shares of the construction company's stock after selling 66,901 shares during the quarter. Dimensional Fund Advisors LP owned 4.26% of Argan worth $79,203,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Argan

In other news, Director Peter W. Getsinger sold 5,000 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total transaction of $725,150.00. Following the completion of the sale, the director now directly owns 11,496 shares of the company's stock, valued at $1,667,264.88. This trade represents a 30.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard H. Deily sold 1,565 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $152.32, for a total value of $238,380.80. Following the completion of the sale, the chief financial officer now directly owns 7,802 shares of the company's stock, valued at approximately $1,188,400.64. The trade was a 16.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,857 shares of company stock valued at $1,308,133. Insiders own 11.85% of the company's stock.

Wall Street Analyst Weigh In

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

Argan Stock Up 1.0 %

Shares of AGX traded up $1.61 during trading hours on Monday, reaching $165.38. The company's stock had a trading volume of 61,911 shares, compared to its average volume of 305,492. The company has a 50 day moving average of $132.03 and a two-hundred day moving average of $142.00. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 34.41 and a beta of 0.41. Argan, Inc. has a 1-year low of $60.98 and a 1-year high of $191.46.

Argan (NYSE:AGX - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.07. The firm had revenue of $232.47 million for 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 company's quarterly revenue was up 41.3% on a year-over-year basis.

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $1.50 annualized dividend and a dividend yield of 0.91%. Argan's dividend payout ratio is 24.55%.

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.