Argan, Inc. (AGX) Holdings Decreased by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC lessened its holdings in shares of Argan, Inc. (NYSE:AGX) by 38.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,140 shares of the construction company’s stock after selling 3,867 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Argan were worth $232,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Argan by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,291,980 shares of the construction company’s stock worth $48,888,000 after purchasing an additional 64,309 shares during the period. BlackRock Inc. lifted its stake in shares of Argan by 5.9% during the 4th quarter. BlackRock Inc. now owns 1,073,628 shares of the construction company’s stock worth $40,626,000 after purchasing an additional 59,828 shares during the period. Royce & Associates LP lifted its stake in shares of Argan by 13.1% during the 4th quarter. Royce & Associates LP now owns 639,880 shares of the construction company’s stock worth $24,213,000 after purchasing an additional 74,234 shares during the period. River Road Asset Management LLC lifted its stake in shares of Argan by 22.1% during the 4th quarter. River Road Asset Management LLC now owns 432,729 shares of the construction company’s stock worth $16,374,000 after purchasing an additional 78,351 shares during the period. Finally, Investment Management of Virginia LLC lifted its stake in shares of Argan by 0.7% during the 4th quarter. Investment Management of Virginia LLC now owns 175,753 shares of the construction company’s stock worth $6,651,000 after purchasing an additional 1,261 shares during the period. 84.94% of the stock is currently owned by institutional investors.

Shares of AGX opened at $50.02 on Friday. The firm has a market capitalization of $779.26 million, a P/E ratio of 14.91 and a beta of 0.96. Argan, Inc. has a twelve month low of $34.90 and a twelve month high of $51.95.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, April 18th.

Separately, Lake Street Capital increased their target price on Argan from $56.00 to $62.00 and gave the stock a “positive” rating in a research report on Thursday, April 11th.

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About Argan

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company's Power Industry Services segment offers engineering, procurement, and construction contracting services 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 44 projects with approximately 15,000 megawatts of power-generating capacity.

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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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