Argan, Inc. (NYSE:AGX) Director Mano S. Koilpillai Sells 2,700 Shares

Argan, Inc. (NYSE:AGX) Director Mano S. Koilpillai sold 2,700 shares of Argan stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $61.79, for a total value of $166,833.00. Following the completion of the transaction, the director now owns 7,608 shares in the company, valued at $470,098.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Argan Stock Performance

Shares of NYSE:AGX remained flat at $61.21 during trading on Thursday. 82,738 shares of the stock traded hands, compared to its average volume of 73,820. The business’s 50-day simple moving average is $50.96 and its two-hundred day simple moving average is $47.46. Argan, Inc. has a 52-week low of $37.37 and a 52-week high of $62.69. The stock has a market capitalization of $810.42 million, a P/E ratio of 25.61 and a beta of 0.49.

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

Argan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, April 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.96%. Argan’s dividend payout ratio is currently 50.21%.

Institutional Trading of Argan

Several large investors have recently made changes to their positions in AGX. Essex Investment Management Co. LLC purchased a new stake in shares of Argan during the fourth quarter worth $2,300,000. Azarias Capital Management L.P. grew its position in shares of Argan by 37.6% in the third quarter. Azarias Capital Management L.P. now owns 173,143 shares of the construction company’s stock valued at $7,881,000 after purchasing an additional 47,332 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Argan by 9.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company’s stock valued at $18,011,000 after purchasing an additional 32,958 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Argan during the third quarter worth approximately $1,298,000. Finally, Wesbanco Bank Inc. acquired a new position in Argan during the first quarter worth $1,257,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AGX shares. StockNews.com raised shares of Argan from a “buy” rating to a “strong-buy” rating in a report on Monday, April 15th. Lake Street Capital raised their price target on Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, April 12th.

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.