Peter Getsinger Sells 2,000 Shares of Argan (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Peter Getsinger sold 2,000 shares of Argan stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $699.00, for a total transaction of $1,398,000.00. Following the completion of the sale, the director owned 4,880 shares in the company, valued at $3,411,120. This trade represents a 29.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Argan Stock Up 2.6%

Shares of AGX stock opened at $738.43 on Friday. Argan, Inc. has a 12 month low of $193.82 and a 12 month high of $779.00. The company’s fifty day simple moving average is $656.75 and its 200-day simple moving average is $487.55. The firm has a market cap of $10.35 billion, a PE ratio of 64.89 and a beta of 0.58.

Argan (NYSE:AGX) last released its earnings results on Thursday, June 4th. The construction company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.93. Argan had a net margin of 15.48% and a return on equity of 36.89%. The business had revenue of $290.95 million during the quarter, compared to the consensus estimate of $256.03 million. During the same quarter last year, the firm earned $1.60 earnings per share. The firm’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, equities analysts predict that Argan, Inc. will post 12.6 earnings per share for the current fiscal year.

Argan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd will be issued a $0.50 dividend. The ex-dividend date is Thursday, July 23rd. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. Argan’s dividend payout ratio (DPR) is presently 17.57%.

Argan declared that its Board of Directors has authorized a stock buyback plan on Wednesday, April 8th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Argan

Several institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its position in shares of Argan by 2.0% in the first quarter. International Assets Investment Management LLC now owns 775 shares of the construction company’s stock valued at $443,000 after buying an additional 15 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Argan by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 541 shares of the construction company’s stock worth $170,000 after acquiring an additional 30 shares during the last quarter. Baader Bank Aktiengesellschaft raised its stake in Argan by 0.6% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 5,030 shares of the construction company’s stock valued at $2,734,000 after acquiring an additional 30 shares during the period. National Bank of Canada FI lifted its holdings in 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 purchasing an additional 31 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in Argan by 1.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 2,564 shares of the construction company’s stock valued at $803,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Argan from $399.00 to $518.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Wall Street Zen raised Argan from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Argan in a research note on Monday, April 6th. Zacks Research downgraded Argan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Freedom Capital raised shares of Argan to a “hold” rating in a research note on Tuesday, March 10th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $470.40.

More Argan News

Here are the key news stories impacting Argan this week:

• Positive Sentiment: Argan’s recent quarterly results were excellent, with EPS of $3.24 beating estimates by a wide margin and revenue rising 50.2% year over year, reinforcing confidence in the company’s execution and profitability. Argan earnings report
• Positive Sentiment: Analysts highlighted Argan’s backlog as 79% gas-focused and tied to rising power demand from data centers, electrification, and reshoring, which supports the view that project demand remains strong. Zacks backlog article
• Neutral Sentiment: The company has a $200 million share repurchase authorization and recently declared a quarterly dividend, both of which can support the stock, but they are longer-term capital-return factors rather than immediate catalysts. Argan capital return details
• Negative Sentiment: Multiple insiders, including CEO David Hibbert Watson, CFO Joshua Scott Baugher, and directors Peter W. Getsinger and Karen Sweeney, sold shares this week, and clustered insider selling can weigh on investor sentiment. Insider selling alert

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.