Argan (NYSE:AGX) CFO Joshua Scott Baugher Sells 760 Shares

Argan, Inc. (NYSE:AGX) CFO Joshua Scott Baugher sold 760 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $733.30, for a total value of $557,308.00. Following the completion of the sale, the chief financial officer directly owned 1,479 shares in the company, valued at approximately $1,084,550.70. This trade represents a 33.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Joshua Scott Baugher also recently made the following trade(s):

• On Thursday, April 16th, Joshua Scott Baugher sold 600 shares of Argan stock. The stock was sold at an average price of $605.60, for a total transaction of $363,360.00.

Argan Trading Up 2.6%

AGX opened at $738.43 on Friday. Argan, Inc. has a twelve month low of $193.82 and a twelve month high of $779.00. The stock has a market cap of $10.35 billion, a PE ratio of 64.89 and a beta of 0.58. The business’s 50 day moving average is $656.75 and its 200-day moving average is $487.55.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, June 4th. The construction company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.93. The company had revenue of $290.95 million for the quarter, compared to analyst estimates of $256.03 million. Argan had a return on equity of 36.89% and a net margin of 15.48%.The company’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period last year, the company earned $1.60 earnings per share. As a group, analysts forecast that Argan, Inc. will post 12.6 EPS for the current year.

Argan announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 8th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, July 23rd. Argan’s payout ratio is presently 17.57%.

Key Argan News

Here are the key news stories impacting Argan this week:

• Positive Sentiment: Argan’s recent quarterly results were excellent, with EPS of $3.24 beating estimates by a wide margin and revenue rising 50.2% year over year, reinforcing confidence in the company’s execution and profitability. Argan earnings report
• Positive Sentiment: Analysts highlighted Argan’s backlog as 79% gas-focused and tied to rising power demand from data centers, electrification, and reshoring, which supports the view that project demand remains strong. Zacks backlog article
• Neutral Sentiment: The company has a $200 million share repurchase authorization and recently declared a quarterly dividend, both of which can support the stock, but they are longer-term capital-return factors rather than immediate catalysts. Argan capital return details
• Negative Sentiment: Multiple insiders, including CEO David Hibbert Watson, CFO Joshua Scott Baugher, and directors Peter W. Getsinger and Karen Sweeney, sold shares this week, and clustered insider selling can weigh on investor sentiment. Insider selling alert

Wall Street Analyst Weigh In

Several research analysts have issued reports on AGX shares. Freedom Capital raised Argan to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Argan in a research note on Monday, April 6th. Zacks Research downgraded shares of Argan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. raised shares of Argan from a “neutral” rating to an “overweight” rating and set a $550.00 target price on the stock in a research note on Friday, March 27th. Finally, Lake Street Capital lifted their price target on Argan from $375.00 to $600.00 and gave the company a “hold” rating in a report on Friday, June 5th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $470.40.

Institutional Trading of Argan

A number of institutional investors and hedge funds have recently made changes to their positions in AGX. Aster Capital Management DIFC Ltd bought a new position in shares of Argan in the third quarter valued at approximately $25,000. Western Wealth Management LLC bought a new stake in Argan during the 1st quarter valued at approximately $25,000. Danske Bank A S bought a new position in Argan in the 3rd quarter worth approximately $27,000. Montag A & Associates Inc. acquired a new stake in shares of Argan in the fourth quarter worth $30,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Argan during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

About Argan

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.