Rainer H. Bosselmann Sells 13,728 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 13,728 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $221.58, for a total value of $3,041,850.24. Following the completion of the transaction, the director now owns 196,723 shares in the company, valued at $43,589,882.34. This represents a 6.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Argan Stock Performance

Shares of NYSE:AGX opened at $222.26 on Friday. The firm has a market capitalization of $3.03 billion, a PE ratio of 46.50 and a beta of 0.55. Argan, Inc. has a 52-week low of $63.53 and a 52-week high of $246.60. The firm has a fifty day moving average of $173.97 and a 200 day moving average of $152.92.

Argan (NYSE:AGX) last issued its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.51. The firm had revenue of $193.66 million during the quarter, compared to analyst estimates of $193.75 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company’s revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 earnings per share.

Argan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were given a $0.375 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a yield of 0.67%. Argan’s payout ratio is 21.04%.

Institutional Trading of Argan

Several hedge funds and other institutional investors have recently bought and sold shares of AGX. Spire Wealth Management purchased a new position in shares of Argan during the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC bought a new position in shares of Argan during the 4th quarter valued at $32,000. Larson Financial Group LLC raised its position in Argan by 2,987.5% in the 1st quarter. Larson Financial Group LLC now owns 247 shares of the construction company’s stock worth $32,000 after purchasing an additional 239 shares during the period. Global Retirement Partners LLC bought a new stake in Argan in the fourth quarter worth $35,000. Finally, McIlrath & Eck LLC lifted its stake in Argan by 419.4% in the fourth 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 last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AGX. Lake Street Capital lifted their price target on Argan from $150.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Kepler Capital Markets lowered shares of Argan from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th.

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.