Insider Selling: Argan, Inc. (NYSE:AGX) Director Sells 5,000 Shares of Stock

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 5,000 shares of Argan stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total value of $725,150.00. Following the completion of the transaction, the director now directly owns 11,496 shares of the company’s stock, valued at approximately $1,667,264.88. This represents a 30.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Argan Trading Down 1.7 %

Shares of NYSE AGX opened at $146.19 on Friday. Argan, Inc. has a 12-month low of $60.03 and a 12-month high of $191.46. The stock has a market cap of $1.99 billion, a P/E ratio of 30.58 and a beta of 0.45. The business’s fifty day simple moving average is $130.57 and its 200-day simple moving average is $139.22.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business had revenue of $232.47 million during the quarter, compared to analysts’ expectations of $197.50 million. The company’s revenue was up 41.3% compared to the same quarter last year.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be issued a $0.375 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.03%. Argan’s payout ratio is 24.55%.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital upgraded shares of Argan from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Friday, March 28th.

Hedge Funds Weigh In On Argan

Large investors have recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of Argan by 18.1% in the 4th quarter. American Century Companies Inc. now owns 480,658 shares of the construction company’s stock valued at $65,869,000 after acquiring an additional 73,654 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Argan by 70.8% in the third quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company’s stock valued at $3,836,000 after purchasing an additional 15,681 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Argan in the third quarter valued at approximately $1,373,000. Victory Capital Management Inc. raised its holdings in Argan by 28.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company’s stock worth $2,400,000 after purchasing an additional 3,880 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in Argan by 95.7% during the fourth quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company’s stock worth $897,000 after purchasing an additional 3,199 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

About Argan

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.