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

Sterling Capital Management LLC lessened its stake in Argan, Inc. (NYSE:AGX - Free Report) by 34.1% in the 4th quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AGX. FMR LLC raised its holdings in Argan by 68.2% in the third quarter. FMR LLC now owns 1,033 shares of the construction company's stock valued at $105,000 after acquiring an additional 419 shares in the last quarter. State Street Corp raised its holdings in shares of Argan by 4.8% in the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company's stock valued at $35,905,000 after purchasing an additional 16,055 shares in the last quarter. Barclays PLC raised its holdings in shares of Argan by 46.6% in the 3rd quarter. Barclays PLC now owns 66,341 shares of the construction company's stock valued at $6,728,000 after purchasing an additional 21,094 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Argan by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company's stock worth $29,141,000 after purchasing an additional 1,553 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Argan by 51.0% during the third quarter. Franklin Resources Inc. now owns 22,406 shares of the construction company's stock worth $2,273,000 after purchasing an additional 7,564 shares in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

Argan Stock Up 2.9 %

Argan stock traded up $3.82 during mid-day trading on Tuesday, hitting $133.73. The company had a trading volume of 280,864 shares, compared to its average volume of 298,448. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 27.98 and a beta of 0.45. Argan, Inc. has a 1 year low of $60.03 and a 1 year high of $191.46. The business has a fifty day moving average of $129.88 and a 200 day moving average of $139.82.

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

Argan Announces Dividend

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 $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Tuesday, April 22nd. Argan's payout ratio is currently 24.55%.

Analyst Upgrades and Downgrades

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

Insider Activity at Argan

In related news, Director Peter W. Getsinger sold 2,292 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $150.35, for a total value of $344,602.20. Following the completion of the sale, the director now owns 9,500 shares in the company, valued at $1,428,325. This represents a 19.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.85% of the company's stock.

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.