Argan Inc. (AGX) Director Cynthia Flanders Sells 10,000 Shares of Stock
Argan Inc. (NYSE:AGX) Director Cynthia Flanders sold 10,000 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $57.24, for a total transaction of $572,400.00. Following the completion of the sale, the director now directly owns 22,000 shares of the company’s stock, valued at $1,259,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Argan Inc. (NYSE:AGX) opened at 58.06 on Thursday. The firm has a 50-day moving average of $51.06 and a 200-day moving average of $41.45. Argan Inc. has a 1-year low of $28.03 and a 1-year high of $58.40. The firm has a market capitalization of $872.76 million, a price-to-earnings ratio of 17.84 and a beta of 1.26.
Argan (NYSE:AGX) last posted its quarterly earnings results on Tuesday, September 6th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.50. Argan had a net margin of 9.45% and a return on equity of 21.27%. The company had revenue of $162.50 million for the quarter. On average, analysts expect that Argan Inc. will post $3.62 earnings per share for the current year.
The firm also recently declared an annual dividend, which will be paid on Friday, October 28th. Stockholders of record on Tuesday, October 18th will be given a $0.70 dividend. The ex-dividend date is Friday, October 14th. This represents a dividend yield of 1.27%. Argan’s payout ratio is currently 21.41%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 price target for the company in a research report on Thursday, September 8th. Lake Street Capital started coverage on shares of Argan in a research report on Thursday, June 9th. They issued a “buy” rating for the company.
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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