Peter Getsinger Sells 4,000 Shares of Argan (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Peter Getsinger sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $328.34, for a total value of $1,313,360.00. Following the completion of the transaction, the director directly owned 7,847 shares of the company’s stock, valued at $2,576,483.98. This trade represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Argan Price Performance

Shares of Argan stock opened at $311.58 on Friday. Argan, Inc. has a 1-year low of $101.02 and a 1-year high of $399.30. The business’s fifty day moving average price is $335.43 and its two-hundred day moving average price is $274.66. The company has a market capitalization of $4.32 billion, a P/E ratio of 36.70 and a beta of 0.64.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, December 4th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.35. Argan had a return on equity of 31.38% and a net margin of 13.11%.The company had revenue of $251.15 million during the quarter, compared to analysts’ expectations of $251.50 million. During the same quarter in the prior year, the business posted $2.00 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year.

Argan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 22nd will be issued a $0.50 dividend. The ex-dividend date is Thursday, January 22nd. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. Argan’s dividend payout ratio (DPR) is 23.56%.

Analyst Ratings Changes

AGX has been the subject of a number of research analyst reports. The Goldman Sachs Group assumed coverage on Argan in a research report on Tuesday, November 11th. They issued a “buy” rating and a $397.00 target price for the company. Weiss Ratings restated a “buy (b+)” rating on shares of Argan in a report on Wednesday, December 24th. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and raised their target price for the company from $260.00 to $325.00 in a research note on Friday, December 5th. Zacks Research raised Argan from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Glj Research raised shares of Argan from a “hold” rating to a “buy” rating and upped their price target for the company from $251.00 to $369.00 in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Argan currently has an average rating of “Moderate Buy” and an average target price of $355.20.

Institutional Investors Weigh In On Argan

Several hedge funds have recently modified their holdings of AGX. National Bank of Canada FI raised its holdings in Argan by 26.7% during the 3rd quarter. National Bank of Canada FI now owns 147 shares of the construction company’s stock worth $40,000 after buying an additional 31 shares during the period. Ring Mountain Capital LLC increased its position in shares of Argan by 1.3% in the third quarter. Ring Mountain Capital LLC now owns 2,735 shares of the construction company’s stock worth $739,000 after acquiring an additional 35 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Argan by 33.6% in the fourth quarter. GAMMA Investing LLC now owns 151 shares of the construction company’s stock worth $47,000 after acquiring an additional 38 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Argan by 22.0% during the third quarter. Federated Hermes Inc. now owns 255 shares of the construction company’s stock valued at $69,000 after acquiring an additional 46 shares during the period. Finally, Strategic Advocates LLC lifted its position in shares of Argan by 4.8% in the 3rd quarter. Strategic Advocates LLC now owns 1,350 shares of the construction company’s stock valued at $365,000 after acquiring an additional 62 shares in the last quarter. 79.43% of the stock is owned by hedge funds and other institutional investors.

About Argan

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.