Peter W. Getsinger Sells 2,292 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 2,292 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $150.35, for a total transaction of $344,602.20. Following the completion of the sale, the director now owns 9,500 shares in the company, valued at approximately $1,428,325. The trade was a 19.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Argan Trading Down 1.7 %

Shares of NYSE AGX opened at $146.19 on Friday. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 30.58 and a beta of 0.45. Argan, Inc. has a one year low of $60.03 and a one year high of $191.46. The business has a fifty day simple moving average of $130.57 and a 200 day simple moving average of $139.22.

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

Argan Dividend Announcement

The business also recently announced 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 of this dividend 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 presently 24.55%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Argan

Hedge funds and other institutional investors have recently modified their holdings of the stock. Spire Wealth Management bought a new stake in Argan in the fourth quarter valued at $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Argan during the 4th quarter worth about $32,000. Global Retirement Partners LLC bought a new position in Argan during the 4th quarter valued at about $35,000. McIlrath & Eck LLC boosted its position in Argan by 419.4% in the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company’s stock valued at $51,000 after buying an additional 302 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Argan during the fourth quarter worth about $57,000. Institutional investors own 79.43% of the company’s stock.

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.