Argan, Inc. (NYSE:AGX) CFO Richard H. Deily Sells 2,000 Shares of Stock

Argan, Inc. (NYSE:AGX) CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 9,367 shares of the company’s stock, valued at $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Argan Trading Up 2.4 %

Shares of AGX stock opened at $159.35 on Friday. The stock has a market cap of $2.16 billion, a P/E ratio of 33.34 and a beta of 0.56. Argan, Inc. has a 1 year low of $43.44 and a 1 year high of $165.33. The stock has a 50 day simple moving average of $148.20 and a 200 day simple moving average of $109.79.

Argan (NYSE:AGX) last released its earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.74. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm had revenue of $257.00 million during the quarter, compared to the consensus estimate of $225.60 million. Argan’s revenue was up 56.9% on a year-over-year basis.

Argan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, January 23rd. Argan’s payout ratio is presently 31.38%.

Institutional Trading of Argan

Several large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Argan during the second quarter valued at approximately $41,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Argan in the 3rd quarter valued at $43,000. Copeland Capital Management LLC acquired a new position in shares of Argan during the 3rd quarter worth $56,000. Point72 DIFC Ltd bought a new stake in shares of Argan during the 2nd quarter worth $70,000. Finally, nVerses Capital LLC bought a new stake in shares of Argan during the 3rd quarter worth $91,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and lifted their price target for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd. CJS Securities reissued a “market perform” rating and set a $150.00 target price on shares of Argan in a report on Friday, December 6th. Finally, StockNews.com downgraded shares of Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th.

Argan Company Profile

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.