Argan, Inc. (NYSE:AGX) Director Sells $346,995.00 in Stock

Argan, Inc. (NYSE:AGXGet Free Report) Director Rainer H. Bosselmann sold 4,500 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $77.11, for a total value of $346,995.00. Following the completion of the sale, the director now owns 247,719 shares in the company, valued at $19,101,612.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Argan Stock Performance

NYSE:AGX opened at $77.60 on Thursday. Argan, Inc. has a 1 year low of $37.37 and a 1 year high of $78.95. The stock has a market cap of $1.04 billion, a P/E ratio of 27.62 and a beta of 0.45. The stock has a 50-day simple moving average of $66.98 and a 200-day simple moving average of $53.97.

Argan (NYSE:AGXGet Free Report) last announced its quarterly earnings results on Thursday, June 6th. The construction company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $157.70 million for the quarter, compared to analyst estimates of $134.75 million. Argan had a net margin of 6.08% and a return on equity of 13.22%. The firm’s revenue was up 52.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) earnings per share.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, April 19th. Argan’s payout ratio is currently 42.70%.

Wall Street Analyst Weigh In

Several research firms have commented on AGX. StockNews.com cut shares of Argan from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th. Lake Street Capital boosted their target price on shares of Argan from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, June 7th.

Get Our Latest Report on AGX

Institutional Trading of Argan

A number of large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its stake in Argan by 120.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 45,260 shares of the construction company’s stock valued at $2,118,000 after buying an additional 24,769 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Argan by 360.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,005 shares of the construction company’s stock valued at $842,000 after purchasing an additional 14,092 shares during the period. SG Americas Securities LLC raised its holdings in shares of 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 last quarter. Trexquant Investment LP acquired a new stake in shares of Argan during the fourth quarter worth about $623,000. Finally, Teacher Retirement System of Texas grew its holdings in shares of Argan by 91.6% during the fourth quarter. Teacher Retirement System of Texas now owns 18,210 shares of the construction company’s stock worth $852,000 after buying an additional 8,704 shares during the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

Argan Company Profile

(Get Free Report)

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.

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Insider Buying and Selling by Quarter for Argan (NYSE:AGX)

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