Insider Selling: Argan, Inc. (NYSE:AGX) Director Sells 25,000 Shares of Stock

Argan, Inc. (NYSE:AGXGet Free Report) Director Rainer H. Bosselmann sold 25,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $71.52, for a total transaction of $1,788,000.00. Following the sale, the director now directly owns 273,916 shares of the company’s stock, valued at approximately $19,590,472.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Argan Stock Performance

Shares of Argan stock traded down $1.85 during midday trading on Tuesday, hitting $70.38. 134,956 shares of the company traded hands, compared to its average volume of 107,923. The stock has a market cap of $939.57 million, a price-to-earnings ratio of 25.05 and a beta of 0.51. The firm’s fifty day moving average price is $70.43 and its 200-day moving average price is $56.65. Argan, Inc. has a 12 month low of $37.37 and a 12 month high of $78.95.

Argan (NYSE:AGXGet Free Report) last issued its quarterly earnings results on Thursday, June 6th. The construction company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $157.70 million for the quarter, compared to the consensus estimate of $134.75 million. Argan had a net margin of 6.08% and a return on equity of 13.22%. The company’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) EPS.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 23rd will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, July 23rd. This represents a $1.20 annualized dividend and a yield of 1.71%. Argan’s payout ratio is 42.70%.

Analyst Upgrades and Downgrades

AGX has been the subject of a number of analyst reports. downgraded shares of Argan from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. Lake Street Capital raised their target price on shares of Argan from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, June 7th.

View Our Latest Research Report on AGX

Institutional Trading of Argan

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Argan by 1.7% during the first quarter. Vanguard Group Inc. now owns 726,171 shares of the construction company’s stock valued at $36,701,000 after buying an additional 12,162 shares during the period. Azarias Capital Management L.P. grew its position in Argan by 4.3% during the fourth quarter. Azarias Capital Management L.P. now owns 180,525 shares of the construction company’s stock valued at $8,447,000 after buying an additional 7,382 shares during the period. Acadian Asset Management LLC grew its position in Argan by 2.2% during the first quarter. Acadian Asset Management LLC now owns 131,987 shares of the construction company’s stock valued at $6,668,000 after buying an additional 2,778 shares during the period. Legato Capital Management LLC grew its position in Argan by 13.0% during the fourth quarter. Legato Capital Management LLC now owns 116,613 shares of the construction company’s stock valued at $5,456,000 after buying an additional 13,431 shares during the period. Finally, Raymond James & Associates grew its position in Argan by 1.0% during the first quarter. Raymond James & Associates now owns 90,801 shares of the construction company’s stock valued at $4,589,000 after buying an additional 935 shares during the period. Institutional investors own 79.43% of the company’s stock.

About Argan

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Argan (NYSE:AGX)

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