WCM Investment Management LLC Buys 10,074 Shares of Argan, Inc. (NYSE:AGX)

WCM Investment Management LLC boosted its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 17.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,394 shares of the construction company's stock after purchasing an additional 10,074 shares during the quarter. WCM Investment Management LLC owned 0.51% of Argan worth $9,585,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AGX. City Center Advisors LLC acquired a new position in shares of Argan in the 1st quarter valued at $223,000. American Century Companies Inc. raised its stake in shares of Argan by 18.1% in the 4th quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock valued at $65,869,000 after buying an additional 73,654 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Argan by 11,180.0% in the 1st quarter. GAMMA Investing LLC now owns 5,640 shares of the construction company's stock valued at $7,400,000 after buying an additional 5,590 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Argan by 28.5% in the 4th quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock valued at $2,400,000 after buying an additional 3,880 shares in the last quarter. Finally, Intech Investment Management LLC raised 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 valued at $897,000 after buying an additional 3,199 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Argan

In other Argan news, Director Peter W. Getsinger sold 3,456 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $212.01, for a total transaction of $732,706.56. Following the sale, the director owned 14,895 shares of the company's stock, valued at $3,157,888.95. This represents a 18.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rainer H. Bosselmann sold 13,728 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $221.58, for a total transaction of $3,041,850.24. Following the sale, the director directly owned 196,723 shares in the company, valued at approximately $43,589,882.34. This represents a 6.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,696 shares of company stock worth $19,291,140 over the last ninety days. Company insiders own 6.69% of the company's stock.

Argan Trading Up 1.7%

Shares of Argan stock traded up $3.50 during mid-day trading on Friday, reaching $209.65. 192,314 shares of the stock were exchanged, compared to its average volume of 352,484. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 29.40 and a beta of 0.54. The firm has a 50-day simple moving average of $198.29 and a 200 day simple moving average of $160.32. Argan, Inc. has a fifty-two week low of $63.53 and a fifty-two week high of $246.60.

Argan (NYSE:AGX - Get Free Report) last announced its earnings results on Wednesday, June 4th. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.51. The business had revenue of $193.66 million during the quarter, compared to analysts' expectations of $193.75 million. Argan had a net margin of 11.00% and a return on equity of 29.61%. The firm's revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the company posted $0.58 EPS.

Argan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 23rd will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, July 23rd. Argan's dividend payout ratio (DPR) is currently 21.04%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Lake Street Capital increased their price objective on shares of Argan from $150.00 to $236.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Kepler Capital Markets cut shares of Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th.

Argan Company 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.