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

Russell Investments Group Ltd. decreased its stake in shares of Argan, Inc. (NYSE:AGX – Get Rating) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 151,490 shares of the construction company’s stock after selling 4,384 shares during the period. Russell Investments Group Ltd. owned about 1.12% of Argan worth $5,587,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of AGX. Quadrant Capital Group LLC lifted its position in shares of Argan by 228.8% during the third quarter. Quadrant Capital Group LLC now owns 766 shares of the construction company’s stock worth $25,000 after purchasing an additional 533 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in shares of Argan during the third quarter worth about $32,000. Gladius Capital Management LP bought a new position in shares of Argan during the fourth quarter worth about $38,000. Quantbot Technologies LP lifted its position in shares of Argan by 390.9% during the second quarter. Quantbot Technologies LP now owns 1,620 shares of the construction company’s stock worth $60,000 after purchasing an additional 1,290 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Argan by 159.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the construction company’s stock worth $71,000 after purchasing an additional 1,358 shares during the last quarter. Institutional investors own 83.84% of the company’s stock.

Wall Street Analyst Weigh In

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

Argan Stock Up 1.6 %

Shares of NYSE AGX opened at $42.36 on Tuesday. The firm’s 50-day moving average price is $40.06 and its two-hundred day moving average price is $38.39. Argan, Inc. has a 52-week low of $31.26 and a 52-week high of $43.50. The stock has a market capitalization of $568.47 million, a P/E ratio of 17.95 and a beta of 0.62.

Argan (NYSE:AGX – Get Rating) last issued its earnings results on Wednesday, April 12th. The construction company reported $1.00 earnings per share (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 for the quarter.

Argan Announces Dividend

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

About Argan

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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.