Argan, Inc. (NYSE:AGX) Director Sells $166,833.00 in Stock

Argan, Inc. (NYSE:AGX) Director Mano S. Koilpillai sold 2,700 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $61.79, for a total value of $166,833.00. Following the transaction, the director now directly owns 7,608 shares of the company’s stock, valued at $470,098.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Argan Stock Up 1.3 %

Shares of NYSE AGX opened at $61.98 on Friday. The stock has a market cap of $820.62 million, a PE ratio of 25.93 and a beta of 0.49. Argan, Inc. has a 52-week low of $37.37 and a 52-week high of $62.69. The business has a 50-day moving average price of $51.54 and a 200 day moving average price of $47.67.

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

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 22nd will be given a $0.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.94%. Argan’s dividend payout ratio (DPR) is presently 50.21%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AGX shares. Lake Street Capital upped their price objective on Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. StockNews.com raised Argan from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 15th.

Institutional Trading of Argan

A number of large investors have recently made changes to their positions in AGX. Essex Investment Management Co. LLC purchased a new stake in Argan during the 4th quarter valued at approximately $2,300,000. Azarias Capital Management L.P. raised its stake 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 valued at $7,881,000 after acquiring an additional 47,332 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake 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 valued at $18,011,000 after acquiring an additional 32,958 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Argan during the 3rd quarter valued at approximately $1,298,000. Finally, Wesbanco Bank Inc. purchased a new stake in Argan during the 1st quarter valued at approximately $1,257,000. 79.43% of the stock is owned by institutional investors and hedge funds.

About Argan

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.