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

Dimensional Fund Advisors LP lowered its position in shares of Argan, Inc. (NYSE:AGX) by 10.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 577,938 shares of the construction company’s stock after selling 66,901 shares during the period. Dimensional Fund Advisors LP’s holdings in Argan were worth $79,203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AGX. Spire Wealth Management bought a new stake in shares of Argan during the fourth quarter worth about $26,000. Farther Finance Advisors LLC acquired a new stake in Argan during the 4th quarter worth approximately $32,000. Global Retirement Partners LLC bought a new stake in Argan during the 4th quarter worth approximately $35,000. Truvestments Capital LLC acquired a new position in Argan in the 4th quarter valued at approximately $57,000. Finally, Federated Hermes Inc. raised its stake in shares of Argan by 1,123.5% during the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company’s stock valued at $57,000 after acquiring an additional 382 shares during the last quarter. Institutional investors and hedge funds own 79.43% 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 price objective for the company in a report on Friday, March 28th.

Insider Transactions at Argan

In related news, 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 transaction of $725,150.00. Following the completion of the sale, the director now owns 11,496 shares of the company’s stock, valued at $1,667,264.88. This trade represents a 30.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 11.85% of the company’s stock.

Argan Price Performance

Shares of AGX stock opened at $153.31 on Wednesday. The stock has a market capitalization of $2.09 billion, a PE ratio of 32.07 and a beta of 0.45. The business’s 50 day simple moving average is $130.23 and its 200 day simple moving average is $141.13. Argan, Inc. has a one year low of $60.03 and a one year high of $191.46.

Argan (NYSE:AGX) last posted its quarterly earnings data 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 company had revenue of $232.47 million for the quarter, compared to analyst estimates of $197.50 million. Argan’s quarterly revenue was up 41.3% on a year-over-year basis.

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.375 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a yield of 0.98%. Argan’s payout ratio is currently 24.55%.

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.