Argan (NYSE:AGX) Director Peter Getsinger Sells 1,000 Shares

Argan, Inc. (NYSE:AGX) Director Peter Getsinger sold 1,000 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $264.54, for a total value of $264,540.00. Following the sale, the director owned 11,896 shares in the company, valued at approximately $3,146,967.84. The trade was a 7.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Argan Trading Down 1.0%

NYSE AGX opened at $265.62 on Wednesday. The stock’s 50-day moving average price is $229.38 and its two-hundred day moving average price is $192.37. The company has a market cap of $3.67 billion, a PE ratio of 31.92 and a beta of 0.62. Argan, Inc. has a 1 year low of $93.26 and a 1 year high of $270.12.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, September 4th. The construction company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.51. Argan had a return on equity of 32.61% and a net margin of 12.73%.The firm had revenue of $237.74 million for the quarter, compared to the consensus estimate of $243.97 million. During the same quarter in the previous year, the company earned $1.31 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year.

Argan Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 23rd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, October 23rd. This is a boost from Argan’s previous quarterly dividend of $0.38. Argan’s dividend payout ratio is 18.03%.

Wall Street Analyst Weigh In

AGX has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on Argan in a research report on Monday, July 21st. They set a “neutral” rating and a $220.00 price objective for the company. Lake Street Capital upped their target price on Argan from $236.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Glj Research started coverage on Argan in a research report on Monday. They issued a “hold” rating and a $251.00 target price on the stock. Wall Street Zen raised Argan from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Finally, Kepler Capital Markets cut Argan from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $220.25.

Institutional Investors Weigh In On Argan

Hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC grew its position in shares of Argan by 2,987.5% in the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company’s stock valued at $32,000 after purchasing an additional 239 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Argan in the second quarter valued at about $44,000. IFP Advisors Inc acquired a new stake in shares of Argan in the second quarter valued at about $71,000. EverSource Wealth Advisors LLC grew its position in shares of Argan by 1,116.7% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the construction company’s stock valued at $80,000 after purchasing an additional 335 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Argan in the first quarter valued at about $109,000. 79.43% of the stock is owned by institutional investors and hedge funds.

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.