Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger Sells 7,385 Shares

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 7,385 shares of Argan stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the transaction, the director now owns 11,792 shares of the company’s stock, valued at $1,949,099.68. This trade represents a 38.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Argan Price Performance

Shares of Argan stock opened at $167.62 on Wednesday. The firm has a 50 day simple moving average of $149.10 and a 200 day simple moving average of $111.51. Argan, Inc. has a fifty-two week low of $43.44 and a fifty-two week high of $176.85. The firm has a market cap of $2.28 billion, a P/E ratio of 35.07 and a beta of 0.56.

Argan (NYSE:AGX) last released its earnings results on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.26 by $0.74. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $225.60 million. The firm’s revenue for the quarter was up 56.9% compared to the same quarter last year.

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $1.50 annualized dividend and a yield of 0.89%. Argan’s dividend payout ratio is currently 31.38%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC raised its stake in shares of Argan by 16.0% during the fourth quarter. CWA Asset Management Group LLC now owns 16,663 shares of the construction company’s stock worth $2,284,000 after buying an additional 2,303 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Argan by 70.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company’s stock worth $3,836,000 after acquiring an additional 15,681 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Argan during the 3rd quarter valued at $1,373,000. Lord Abbett & CO. LLC bought a new stake in shares of Argan during the 3rd quarter valued at $6,687,000. Finally, Franklin Resources Inc. lifted its stake in shares of Argan by 51.0% in the 3rd quarter. Franklin Resources Inc. now owns 22,406 shares of the construction company’s stock valued at $2,273,000 after purchasing an additional 7,564 shares during the period. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com downgraded Argan from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. CJS Securities restated a “market perform” rating and issued a $150.00 target price on shares of Argan in a research note on Friday, December 6th. Finally, Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and upped their price target for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd.

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.