Argan, Inc. (NYSE:AGX) Chairman Sells $443,000.00 in Stock

Argan, Inc. (NYSE:AGX) Chairman William F. Griffin, Jr. sold 10,000 shares of the stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $44.30, for a total value of $443,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of NYSE AGX opened at $42.08 on Thursday. The stock has a fifty day moving average price of $44.90 and a 200 day moving average price of $47.16. Argan, Inc. has a 1-year low of $40.03 and a 1-year high of $55.99. The company has a market cap of $663.56 million, a PE ratio of 15.70 and a beta of 0.55.

Argan (NYSE:AGX) last issued its quarterly earnings results on Monday, September 6th. The construction company reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.33. Argan had a return on equity of 12.88% and a net margin of 8.46%. The firm had revenue of $133.01 million during the quarter.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, October 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, October 20th.

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of Argan by 12.8% in the first quarter. FMR LLC now owns 713,166 shares of the construction company’s stock valued at $35,623,000 after buying an additional 81,013 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Argan by 2,852.5% in the 1st quarter. Panagora Asset Management Inc. now owns 5,403 shares of the construction company’s stock worth $288,000 after buying an additional 5,220 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Argan by 293.5% in the 1st quarter. Prudential Financial Inc. now owns 23,276 shares of the construction company’s stock valued at $1,242,000 after purchasing an additional 17,361 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Argan by 10.6% in the 1st quarter. Geode Capital Management LLC now owns 239,110 shares of the construction company’s stock valued at $12,756,000 after purchasing an additional 22,855 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Argan by 159.0% in the 1st quarter. Barclays PLC now owns 12,320 shares of the construction company’s stock valued at $658,000 after purchasing an additional 7,563 shares in the last quarter. 84.48% of the stock is owned by institutional investors.

Argan Company Profile

Argan, Inc operates as a holding company, which engages in the provision of consulting, engineering, procurement, construction, commissioning, operations, and maintenance services to the power generation and renewable energy. It operates through the following segments: Power Services, Telecom Services, Industrial Services, and Others.

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