WCM Investment Management LLC Invests $8.24 Million in Argan, Inc. (NYSE:AGX)

WCM Investment Management LLC acquired a new stake in Argan, Inc. (NYSE:AGX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 59,320 shares of the construction company’s stock, valued at approximately $8,241,000. WCM Investment Management LLC owned 0.44% of Argan at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Spire Wealth Management acquired a new position in shares of Argan in the 4th quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Argan in the third quarter valued at about $43,000. Copeland Capital Management LLC acquired a new position in Argan in the third quarter valued at about $56,000. nVerses Capital LLC acquired a new position in Argan in the third quarter valued at about $91,000. Finally, KBC Group NV bought a new position in Argan during the fourth quarter worth about $93,000. 79.43% of the stock is owned by institutional investors.

Argan Price Performance

Shares of Argan stock opened at $161.67 on Monday. The company has a market capitalization of $2.19 billion, a P/E ratio of 33.82 and a beta of 0.56. The business has a 50-day moving average of $150.71 and a two-hundred day moving average of $121.70. Argan, Inc. has a 1 year low of $44.69 and a 1 year high of $191.46.

Argan (NYSE:AGX) last posted its earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.74. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $225.60 million. Argan’s revenue was up 56.9% on a year-over-year basis.

Argan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 23rd were given a $0.375 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $1.50 annualized dividend and a yield of 0.93%. Argan’s dividend payout ratio is currently 31.38%.

Insider Buying and Selling

In other Argan news, CEO David Hibbert Watson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $146.05, for a total value of $1,460,500.00. Following the sale, the chief executive officer now owns 51,291 shares in the company, valued at approximately $7,491,050.55. The trade was a 16.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter W. Getsinger sold 800 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $155.24, for a total transaction of $124,192.00. Following the transaction, the director now directly owns 19,177 shares of the company’s stock, valued at $2,977,037.48. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,185 shares of company stock valued at $3,105,359. Company insiders own 11.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AGX shares. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and increased their price target for the company from $85.00 to $150.00 in a research report on Tuesday, December 3rd. CJS Securities reaffirmed a “market perform” rating and issued a $150.00 target price on shares of Argan in a research note on Friday, December 6th. Finally, StockNews.com cut shares of Argan from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th.

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.