Insider Selling: Argan, Inc. (NYSE:AGX) Director Sells 2,507 Shares of Stock

Argan, Inc. (NYSE:AGX) Director W G. Champion Mitchell sold 2,507 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $61.48, for a total transaction of $154,130.36. Following the sale, the director now directly owns 2,500 shares of the company’s stock, valued at $153,700. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Argan Price Performance

Shares of Argan stock opened at $61.21 on Thursday. Argan, Inc. has a fifty-two week low of $37.37 and a fifty-two week high of $62.69. The firm has a fifty day moving average price of $50.96 and a two-hundred day moving average price of $47.46. The company has a market cap of $810.42 million, a PE ratio of 25.61 and a beta of 0.49.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, April 11th. The construction company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. Argan had a net margin of 5.64% and a return on equity of 11.37%. The firm had revenue of $164.55 million during the quarter, compared to the consensus estimate of $162.05 million. During the same period in the prior year, the firm earned ($0.46) EPS. The business’s revenue was up 38.5% on a year-over-year basis.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 22nd will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, April 19th. Argan’s dividend payout ratio (DPR) is presently 50.21%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AGX shares. StockNews.com raised shares of Argan from a “buy” rating to a “strong-buy” rating in a report on Monday, April 15th. Lake Street Capital upped their price objective on shares of Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, April 12th.

Institutional Trading of Argan

A number of hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Argan by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company’s stock valued at $18,011,000 after purchasing an additional 32,958 shares during the period. Azarias Capital Management L.P. lifted its holdings in shares of Argan by 4.3% during the 4th quarter. Azarias Capital Management L.P. now owns 180,525 shares of the construction company’s stock worth $8,447,000 after acquiring an additional 7,382 shares during the period. Legato Capital Management LLC lifted its holdings in shares of Argan by 13.0% during the 4th quarter. Legato Capital Management LLC now owns 116,613 shares of the construction company’s stock worth $5,456,000 after acquiring an additional 13,431 shares during the period. Money Concepts Capital Corp lifted its holdings in shares of Argan by 1.4% during the 3rd quarter. Money Concepts Capital Corp now owns 109,022 shares of the construction company’s stock worth $4,963,000 after acquiring an additional 1,482 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of Argan by 1.0% during the 1st quarter. Raymond James & Associates now owns 90,801 shares of the construction company’s stock worth $4,589,000 after acquiring an additional 935 shares during the period. 79.43% of the stock is owned by institutional investors.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.