Argan, Inc. (NYSE:AGX – Get Free Report) Director W G. Champion Mitchell sold 2,507 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $61.48, for a total transaction of $154,130.36. Following the completion of the sale, the director now directly owns 2,500 shares in the company, valued at approximately $153,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Argan Trading Up 0.2 %
Shares of Argan stock opened at $61.31 on Friday. The stock has a market capitalization of $811.74 million, a price-to-earnings ratio of 25.65 and a beta of 0.49. Argan, Inc. has a 1-year low of $37.37 and a 1-year high of $62.69. The firm’s 50-day moving average price is $51.24 and its two-hundred day moving average price is $47.56.
Argan (NYSE:AGX – Get Free Report) last issued its quarterly earnings data on Thursday, April 11th. The construction company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.14. Argan had a net margin of 5.64% and a return on equity of 11.37%. The firm had revenue of $164.55 million for the quarter, compared to analysts’ expectations of $162.05 million. During the same period in the prior year, the firm earned ($0.46) earnings per share. The company’s quarterly revenue was up 38.5% compared to the same quarter last year.
Argan Announces Dividend
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on AGX shares. StockNews.com raised shares of Argan from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 15th. Lake Street Capital upped their price objective on shares of Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, April 12th.
Read Our Latest Analysis on Argan
Hedge Funds Weigh In On Argan
Large investors have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC acquired a new position in Argan in the third quarter valued at approximately $666,000. Jump Financial LLC acquired a new position in Argan in the third quarter valued at approximately $493,000. SG Americas Securities LLC lifted its holdings in Argan by 18.8% in the fourth quarter. SG Americas Securities LLC now owns 6,918 shares of the construction company’s stock valued at $324,000 after buying an additional 1,093 shares during the period. Azarias Capital Management L.P. raised its holdings in Argan by 37.6% in the third 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position 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 purchasing an additional 32,958 shares in the last quarter. 79.43% of the stock is currently 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.
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