Argan, Inc. (NYSE:AGX) Director Sells $896,800.00 in Stock

Argan, Inc. (NYSE:AGX) Director James W. Quinn sold 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $89.68, for a total value of $896,800.00. Following the sale, the director now owns 70,422 shares of the company’s stock, valued at $6,315,444.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Argan Price Performance

AGX traded down $0.69 during midday trading on Wednesday, reaching $88.79. 260,526 shares of the company’s stock traded hands, compared to its average volume of 135,379. The firm has a fifty day moving average of $75.05 and a two-hundred day moving average of $66.15. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 31.84 and a beta of 0.51. Argan, Inc. has a 52 week low of $39.74 and a 52 week high of $95.73.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. Argan had a return on equity of 14.80% and a net margin of 6.11%. The business had revenue of $227.02 million during the quarter, compared to analyst estimates of $191.05 million. The business’s revenue was up 60.6% compared to the same quarter last year.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 23rd were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Tuesday, July 23rd. Argan’s dividend payout ratio is currently 42.70%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Argan during the 2nd quarter valued at approximately $41,000. Point72 DIFC Ltd purchased a new stake in Argan during the 2nd quarter valued at $70,000. EntryPoint Capital LLC purchased a new stake in Argan during the 1st quarter valued at $95,000. Quest Partners LLC boosted its stake in Argan by 3,321.4% during the 2nd quarter. Quest Partners LLC now owns 1,916 shares of the construction company’s stock valued at $140,000 after purchasing an additional 1,860 shares during the last quarter. Finally, CWM LLC boosted its stake in Argan by 84.6% during the 2nd quarter. CWM LLC now owns 2,457 shares of the construction company’s stock valued at $180,000 after purchasing an additional 1,126 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AGX. Lake Street Capital increased their target price on Argan from $70.00 to $85.00 and gave the company a “buy” rating in a report on Friday, June 7th. StockNews.com lowered Argan from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th.

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.