Argan, Inc. (NYSE:AGX) Director W G. Champion Mitchell Sells 2,507 Shares

Argan, Inc. (NYSE:AGX) Director W G. Champion Mitchell sold 2,507 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $61.48, for a total value of $154,130.36. Following the completion of the sale, the director now directly owns 2,500 shares of the company’s stock, valued at $153,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Argan Stock Performance

NYSE:AGX opened at $61.63 on Wednesday. The stock has a fifty day moving average price of $50.66 and a two-hundred day moving average price of $47.37. The stock has a market capitalization of $815.98 million, a price-to-earnings ratio of 25.79 and a beta of 0.49. Argan, Inc. has a 1 year low of $37.37 and a 1 year high of $62.69.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, April 11th. The construction company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.14. Argan had a return on equity of 11.37% and a net margin of 5.64%. The firm had revenue of $164.55 million during the quarter, compared to analysts’ expectations of $162.05 million. During the same quarter in the prior year, the business posted ($0.46) earnings per share. Argan’s revenue was up 38.5% compared to the same quarter last year.

Argan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, April 19th. Argan’s dividend payout ratio is currently 50.21%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com raised Argan from a “buy” rating to a “strong-buy” rating in a report on Monday, April 15th. Lake Street Capital increased their price target on Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, April 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AGX. Essex Investment Management Co. LLC purchased a new position in shares of Argan in the fourth quarter valued at $2,300,000. Azarias Capital Management L.P. increased its position in Argan by 37.6% during the 3rd quarter. Azarias Capital Management L.P. now owns 173,143 shares of the construction company’s stock worth $7,881,000 after purchasing an additional 47,332 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Argan by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company’s stock worth $18,011,000 after purchasing an additional 32,958 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Argan during the 3rd quarter worth about $1,298,000. Finally, Wesbanco Bank Inc. purchased a new stake in Argan during the 1st quarter worth about $1,257,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.