Insider Selling: Argan, Inc. (NYSE:AGX) Director Sells 15,000 Shares of Stock

Argan, Inc. (NYSE:AGX) Director Cynthia Flanders sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $220.47, for a total value of $3,307,050.00. Following the transaction, the director now directly owns 33,428 shares of the company’s stock, valued at approximately $7,369,871.16. The trade was a 30.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Argan Stock Down 1.7%

Shares of AGX opened at $202.76 on Friday. Argan, Inc. has a 12-month low of $63.53 and a 12-month high of $246.60. The business has a 50-day simple moving average of $184.75 and a two-hundred day simple moving average of $155.70. The stock has a market cap of $2.77 billion, a PE ratio of 28.44 and a beta of 0.55.

Argan (NYSE:AGX) last posted its quarterly earnings data on Wednesday, June 4th. The construction company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.51. The business had revenue of $193.66 million during the quarter, compared to the consensus estimate of $193.75 million. Argan had a return on equity of 29.61% and a net margin of 11.00%. Argan’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share.

Argan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 23rd will be paid a $0.375 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $1.50 annualized dividend and a dividend yield of 0.74%. Argan’s payout ratio is 21.04%.

Institutional Trading of Argan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGX. Farther Finance Advisors LLC acquired a new stake in Argan during the 4th quarter valued at approximately $32,000. Larson Financial Group LLC increased its position in shares of Argan by 2,987.5% during the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company’s stock worth $32,000 after buying an additional 239 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Argan during the fourth quarter worth $35,000. McIlrath & Eck LLC increased its position in shares of Argan by 419.4% during the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company’s stock worth $51,000 after buying an additional 302 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of Argan during the fourth quarter worth $57,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AGX shares. Lake Street Capital boosted their target price on Argan from $150.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, June 5th. Kepler Capital Markets cut 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.