Richard H. Deily Sells 1,565 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) CFO Richard H. Deily sold 1,565 shares of Argan stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $152.32, for a total transaction of $238,380.80. Following the transaction, the chief financial officer now owns 7,802 shares of the company’s stock, valued at $1,188,400.64. The trade was a 16.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Argan Stock Performance

Shares of AGX stock opened at $163.76 on Friday. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 34.26 and a beta of 0.41. Argan, Inc. has a one year low of $60.38 and a one year high of $191.46. The company’s 50-day moving average is $132.03 and its 200 day moving average is $141.82.

Argan (NYSE:AGX) last announced its quarterly earnings results 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 net margin of 8.20% and a return on equity of 21.66%. The company had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. The business’s revenue for the quarter was up 41.3% compared to the same quarter last year.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Tuesday, April 22nd. Argan’s payout ratio is currently 24.55%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Argan

Large investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings in shares of Argan by 18.1% during 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 worth $3,836,000 after purchasing an additional 15,681 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Argan in the 3rd quarter worth approximately $1,373,000. Victory Capital Management Inc. raised its stake in Argan by 28.5% during the 4th quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company’s stock valued at $2,400,000 after buying an additional 3,880 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Argan by 95.7% during the 4th quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company’s stock valued at $897,000 after buying an additional 3,199 shares during the period. 79.43% of the stock is currently owned by institutional investors.

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.