David Hibbert Watson Sells 500 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) CEO David Hibbert Watson sold 500 shares of Argan stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $139.89, for a total transaction of $69,945.00. Following the completion of the sale, the chief executive officer now directly owns 68,636 shares of the company’s stock, valued at approximately $9,601,490.04. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Argan Stock Up 2.9 %

AGX stock opened at $133.73 on Wednesday. The firm has a market capitalization of $1.82 billion, a PE ratio of 27.98 and a beta of 0.45. Argan, Inc. has a twelve month low of $60.03 and a twelve month high of $191.46. The stock’s 50 day moving average is $129.88 and its 200-day moving average is $139.82.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share 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 for the quarter, compared to analysts’ expectations of $197.50 million. Argan’s revenue for the quarter was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan’s payout ratio is 24.55%.

Analyst Ratings Changes

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

Several hedge funds have recently modified their holdings of the company. Spire Wealth Management bought a new position in shares of Argan in the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC purchased a new position in Argan in the fourth quarter worth $32,000. Global Retirement Partners LLC bought a new position in Argan in the 4th quarter valued at $35,000. McIlrath & Eck LLC raised its stake in shares of Argan by 419.4% during the 4th quarter. McIlrath & Eck LLC now owns 374 shares of the construction company’s stock worth $51,000 after purchasing an additional 302 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Argan during the 4th quarter worth $57,000. 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.