Mano S. Koilpillai Sells 2,700 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Mano S. Koilpillai sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $61.79, for a total transaction of $166,833.00. Following the transaction, the director now directly owns 7,608 shares in the company, valued at $470,098.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Argan Stock Up 1.3 %

Shares of AGX stock opened at $61.99 on Friday. The firm has a market cap of $820.75 million, a price-to-earnings ratio of 25.94 and a beta of 0.49. The company’s 50 day moving average is $51.54 and its 200 day moving average is $47.66. Argan, Inc. has a 52-week low of $37.37 and a 52-week high of $62.69.

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

Argan Dividend Announcement

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

Institutional Investors Weigh In On Argan

Several institutional investors have recently bought and sold shares of AGX. SG Americas Securities LLC acquired a new stake in Argan in the third quarter valued at approximately $265,000. Pinnacle Associates Ltd. boosted its stake in Argan by 3.7% in the third quarter. Pinnacle Associates Ltd. now owns 21,712 shares of the construction company’s stock valued at $988,000 after acquiring an additional 775 shares in the last quarter. Azarias Capital Management L.P. lifted its stake in shares of Argan by 37.6% during the third quarter. Azarias Capital Management L.P. now owns 173,143 shares of the construction company’s stock worth $7,881,000 after buying an additional 47,332 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Argan by 68.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,720 shares of the construction company’s stock worth $169,000 after buying an additional 1,511 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Argan by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company’s stock worth $18,011,000 after buying an additional 32,958 shares during the period. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AGX shares. Lake Street Capital raised their target price on shares of 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 shares of Argan from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 15th.

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.