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

Wellington Management Group LLP lowered its position in Argan, Inc. (NYSE:AGX) by 30.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 4.64% of Argan worth $86,221,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Amundi raised its position in shares of Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company’s stock worth $118,000 after acquiring an additional 68 shares in the last quarter. Savant Capital LLC increased its stake in Argan by 1.3% in the fourth quarter. Savant Capital LLC now owns 10,552 shares of the construction company’s stock valued at $1,446,000 after purchasing an additional 133 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in Argan by 0.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company’s stock worth $3,668,000 after purchasing an additional 150 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Argan during the 4th quarter worth approximately $26,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of Argan in the 4th quarter valued at $32,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AGX shares. CJS Securities reiterated a “market perform” rating and set a $150.00 price target on shares of Argan in a research note on Friday, December 6th. Lake Street Capital upgraded Argan from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Friday, March 28th.

Insider Activity at Argan

In other news, Director Peter W. Getsinger sold 800 shares of Argan stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $155.24, for a total value of $124,192.00. Following the sale, the director now owns 19,177 shares of the company’s stock, valued at $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at $1,405,050. This represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,185 shares of company stock worth $1,644,859 in the last quarter. Company insiders own 11.85% of the company’s stock.

Argan Trading Down 6.3 %

Shares of AGX opened at $120.60 on Friday. The company’s 50 day simple moving average is $131.32 and its 200-day simple moving average is $135.86. Argan, Inc. has a 12-month low of $48.85 and a 12-month high of $191.46. The firm has a market cap of $1.64 billion, a PE ratio of 25.23 and a beta of 0.58.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $197.50 million. Argan’s revenue was up 41.3% compared to the same quarter last year.

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.