Argan Inc. (AGX) Director James W. Quinn Sells 10,000 Shares of Stock
Argan Inc. (NYSE:AGX) Director James W. Quinn sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $57.08, for a total value of $570,800.00. Following the completion of the sale, the director now owns 79,570 shares of the company’s stock, valued at approximately $4,541,855.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Argan Inc. (NYSE:AGX) opened at 58.06 on Thursday. The firm’s 50-day moving average price is $51.06 and its 200-day moving average price is $41.45. Argan Inc. has a 12-month low of $28.03 and a 12-month high of $58.40. The stock has a market cap of $872.76 million, a price-to-earnings ratio of 17.84 and a beta of 1.26.
Argan (NYSE:AGX) last announced its quarterly earnings data on Tuesday, September 6th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.50. The business had revenue of $162.50 million for the quarter. Argan had a net margin of 9.45% and a return on equity of 21.27%. On average, analysts forecast that Argan Inc. will post $3.62 EPS for the current fiscal year.
The company also recently disclosed an annual dividend, which will be paid on Friday, October 28th. Investors of record on Tuesday, October 18th will be paid a dividend of $0.70 per share. This represents a dividend yield of 1.27%. The ex-dividend date is Friday, October 14th. Argan’s payout ratio is 21.41%.
A number of brokerages recently issued reports on AGX. Lake Street Capital began coverage on Argan in a report on Thursday, June 9th. They issued a “buy” rating for the company. Zacks Investment Research upgraded Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 price target for the company in a report on Thursday, September 8th.
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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