Argan, Inc. (NYSE:AGX) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of Argan, Inc. (NYSE:AGX – Get Rating) by 2.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 151,490 shares of the construction company’s stock after selling 4,384 shares during the period. Russell Investments Group Ltd.’s holdings in Argan were worth $5,587,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. River Road Asset Management LLC increased its stake in shares of Argan by 1.1% during the fourth quarter. River Road Asset Management LLC now owns 1,766,567 shares of the construction company’s stock valued at $65,151,000 after acquiring an additional 19,662 shares during the period. BlackRock Inc. grew its position in Argan by 0.4% in the first quarter. BlackRock Inc. now owns 1,259,175 shares of the construction company’s stock worth $51,110,000 after buying an additional 5,487 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Argan by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 839,686 shares of the construction company’s stock worth $27,013,000 after buying an additional 22,155 shares during the last quarter. State Street Corp grew its position in Argan by 27.9% in the first quarter. State Street Corp now owns 376,082 shares of the construction company’s stock worth $15,265,000 after buying an additional 82,024 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Argan by 1.0% in the second quarter. Goldman Sachs Group Inc. now owns 220,906 shares of the construction company’s stock worth $8,245,000 after buying an additional 2,259 shares during the last quarter. Institutional investors and hedge funds own 83.84% of the company’s stock.

Argan Stock Performance

Argan stock opened at $42.36 on Tuesday. The company has a 50 day moving average price of $40.06 and a 200 day moving average price of $38.39. Argan, Inc. has a 52 week low of $31.26 and a 52 week high of $43.50. The firm has a market capitalization of $568.47 million, a price-to-earnings ratio of 17.95 and a beta of 0.62.

Argan (NYSE:AGX – Get Rating) last posted its quarterly earnings data on Wednesday, April 12th. The construction company reported $1.00 EPS for the quarter. Argan had a net margin of 7.27% and a return on equity of 11.70%. The firm had revenue of $118.78 million during the quarter.

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Thursday, April 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Wednesday, April 19th. Argan’s dividend payout ratio is 42.37%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Argan in a research report on Thursday, March 16th. They issued a “buy” rating on the stock.

About Argan

(Get Rating)

Argan, Inc is a construction company, which engages in the operations of its wholly owned subsidiaries. It operates through the following business segments: Power Industry Services, Telecommunications Infrastructure Services, and Industrial Fabrication and Field Services. The Power Industry Services segment includes engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market.