Argan, Inc. (NYSE:AGX) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 30.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 629,167 shares of the construction company's stock after selling 281,889 shares during the quarter. Wellington Management Group LLP owned about 4.63% of Argan worth $86,221,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AGX. Spire Wealth Management acquired a new stake in shares of Argan during the fourth quarter worth $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Argan during the fourth quarter worth $32,000. Global Retirement Partners LLC acquired a new stake in shares of Argan during the fourth quarter worth $35,000. McIlrath & Eck LLC boosted its holdings in shares of Argan by 419.4% during the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock worth $51,000 after purchasing an additional 302 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Argan during the fourth quarter worth $57,000. Institutional investors and hedge funds own 79.43% of the company's stock.

Argan Stock Up 1.4%

Shares of AGX stock traded up $2.98 during mid-day trading on Friday, hitting $209.99. 466,853 shares of the company's stock were exchanged, compared to its average volume of 324,684. Argan, Inc. has a fifty-two week low of $63.53 and a fifty-two week high of $214.75. The stock has a 50-day simple moving average of $158.98 and a two-hundred day simple moving average of $148.85. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 43.93 and a beta of 0.42.

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

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.71%. The ex-dividend date was Tuesday, April 22nd. Argan's payout ratio is currently 24.55%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Argan

In other news, CFO Richard H. Deily sold 1,565 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total transaction of $238,380.80. Following the completion of the transaction, the chief financial officer now directly owns 7,802 shares of the company's stock, valued at approximately $1,188,400.64. This represents a 16.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter W. Getsinger sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total value of $725,150.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 8,857 shares of company stock valued at $1,308,133 in the last quarter. Insiders own 6.69% of the company's stock.

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.