Argan, Inc. (NYSE:AGX) Director Sells $790,814.31 in Stock

Argan, Inc. (NYSE:AGX) Director W G. Champion Mitchell sold 13,143 shares of Argan stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $60.17, for a total value of $790,814.31. Following the transaction, the director now owns 5,197 shares of the company’s stock, valued at approximately $312,703.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Argan Stock Performance

AGX opened at $61.92 on Monday. Argan, Inc. has a one year low of $37.37 and a one year high of $62.19. The stock has a market capitalization of $819.82 million, a PE ratio of 25.91 and a beta of 0.49. The business’s 50 day moving average price is $50.04 and its 200 day moving average price is $47.16.

Argan (NYSE:AGX) last announced its earnings results on Thursday, April 11th. The construction company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. The company had revenue of $164.55 million for the quarter, compared to analyst estimates of $162.05 million. Argan had a return on equity of 11.37% and a net margin of 5.64%. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.46) earnings per share.

Argan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, April 19th. Argan’s dividend payout ratio is currently 50.21%.

Wall Street Analysts Forecast Growth

AGX has been the subject of several recent analyst reports. StockNews.com upgraded Argan from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 15th. Lake Street Capital boosted their target price on Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, April 12th.

Institutional Trading of Argan

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Argan by 0.4% during the first quarter. BlackRock Inc. now owns 1,259,175 shares of the construction company’s stock worth $51,110,000 after acquiring an additional 5,487 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Argan by 9.9% during the first quarter. Dimensional Fund Advisors LP now owns 763,161 shares of the construction company’s stock worth $30,976,000 after acquiring an additional 69,059 shares during the period. Vanguard Group Inc. increased its position in shares of Argan by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 714,009 shares of the construction company’s stock worth $33,408,000 after acquiring an additional 17,150 shares during the period. State Street Corp grew its stake in shares of Argan by 7.2% during the first quarter. State Street Corp now owns 401,622 shares of the construction company’s stock worth $16,254,000 after purchasing an additional 26,993 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Argan by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company’s stock worth $18,011,000 after purchasing an additional 32,958 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.