Argan (NYSE:AGX) CEO Charles Edwin Iv Collins Sells 10,000 Shares

Argan, Inc. (NYSE:AGX) CEO Charles Edwin Iv Collins sold 10,000 shares of the business’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $292.09, for a total value of $2,920,900.00. Following the completion of the transaction, the chief executive officer owned 21,006 shares in the company, valued at $6,135,642.54. This trade represents a 32.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Charles Edwin Iv Collins also recently made the following trade(s):

• On Wednesday, September 24th, Charles Edwin Iv Collins sold 5,000 shares of Argan stock. The shares were sold at an average price of $267.00, for a total value of $1,335,000.00.
• On Thursday, September 18th, Charles Edwin Iv Collins sold 7,500 shares of Argan stock. The shares were sold at an average price of $257.39, for a total value of $1,930,425.00.
• On Thursday, July 31st, Charles Edwin Iv Collins sold 5,000 shares of Argan stock. The shares were sold at an average price of $245.00, for a total value of $1,225,000.00.
• On Tuesday, July 29th, Charles Edwin Iv Collins sold 1,500 shares of Argan stock. The shares were sold at an average price of $241.50, for a total value of $362,250.00.

Argan Price Performance

Shares of NYSE AGX opened at $311.81 on Thursday. The business’s 50-day moving average price is $245.41 and its two-hundred day moving average price is $208.91. Argan, Inc. has a one year low of $101.02 and a one year high of $313.50. The company has a market capitalization of $4.31 billion, a P/E ratio of 37.48 and a beta of 0.64.

Argan (NYSE:AGX) last issued its earnings results on Thursday, September 4th. The construction company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates 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 posted $1.31 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year.

Argan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. This is an increase from Argan’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, October 23rd. Argan’s dividend payout ratio is presently 18.03%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AGX. UBS Group set a $315.00 price target on Argan in a research note on Monday. Glj Research began coverage on Argan in a research note on Monday, September 22nd. They set a “hold” rating and a $251.00 price target for the company. Wall Street Zen upgraded Argan from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. JPMorgan Chase & Co. upgraded Argan from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $220.00 to $315.00 in a research note on Monday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Argan in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $258.20.

Institutional Trading of Argan

Several hedge funds have recently added to or reduced their stakes in AGX. SG Americas Securities LLC boosted its stake in Argan by 362.2% during the 1st quarter. SG Americas Securities LLC now owns 4,969 shares of the construction company’s stock valued at $652,000 after purchasing an additional 3,894 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Argan by 26.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,977 shares of the construction company’s stock valued at $522,000 after purchasing an additional 839 shares during the period. Cardinal Capital Management boosted its stake in Argan by 0.4% during the 1st quarter. Cardinal Capital Management now owns 31,086 shares of the construction company’s stock valued at $4,078,000 after purchasing an additional 111 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Argan by 273.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 68,628 shares of the construction company’s stock valued at $9,226,000 after purchasing an additional 50,230 shares during the period. Finally, WCM Investment Management LLC boosted its stake in Argan by 17.0% during the 1st quarter. WCM Investment Management LLC now owns 69,394 shares of the construction company’s stock valued at $9,585,000 after purchasing an additional 10,074 shares during the period. 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.