John Ronald Jr. Jeffrey Sells 5,000 Shares of Argan (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director John Ronald Jr. Jeffrey sold 5,000 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $360.78, for a total value of $1,803,900.00. Following the completion of the transaction, the director owned 8,192 shares of the company’s stock, valued at approximately $2,955,509.76. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

John Ronald Jr. Jeffrey also recently made the following trade(s):

• On Tuesday, January 20th, John Ronald Jr. Jeffrey sold 2,700 shares of Argan stock. The shares were sold at an average price of $380.60, for a total transaction of $1,027,620.00.

Argan Price Performance

Shares of Argan stock opened at $346.70 on Friday. The company has a 50-day moving average of $341.43 and a 200 day moving average of $289.34. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 40.84 and a beta of 0.64. Argan, Inc. has a 1 year low of $101.02 and a 1 year high of $400.00.

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

Argan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Thursday, January 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, January 22nd. Argan’s dividend payout ratio (DPR) is 23.56%.

Analyst Upgrades and Downgrades

AGX has been the topic of a number of recent research reports. CJS Securities raised Argan to a “hold” rating in a research note on Thursday, December 11th. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and increased their price objective for the company from $260.00 to $325.00 in a research report on Friday, December 5th. The Goldman Sachs Group started coverage on shares of Argan in a report on Tuesday, November 11th. They issued a “buy” rating and a $397.00 target price for the company. Zacks Research upgraded shares of Argan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, UBS Group set a $315.00 price target on shares of Argan in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Argan has an average rating of “Moderate Buy” and an average target price of $355.20.

Institutional Trading of Argan

A number of institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd purchased a new position in shares of Argan during the third quarter valued at approximately $25,000. Danske Bank A S purchased a new stake in Argan in the third quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new stake in Argan in the 3rd quarter worth approximately $32,000. USA Financial Formulas purchased a new stake in Argan during the 4th quarter valued at $40,000. Finally, National Bank of Canada FI lifted its holdings in shares of Argan by 26.7% during the 3rd quarter. National Bank of Canada FI now owns 147 shares of the construction company’s stock valued at $40,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 79.43% of the company’s stock.

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.