Argan (NYSE:AGX) Director William Leimkuhler Sells 200 Shares

Argan, Inc. (NYSE:AGX) Director William Leimkuhler sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $337.47, for a total transaction of $67,494.00. Following the sale, the director owned 900 shares of the company’s stock, valued at $303,723. The trade was a 18.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Argan Stock Performance

Shares of NYSE:AGX opened at $320.58 on Tuesday. Argan, Inc. has a one year low of $101.02 and a one year high of $399.30. The stock has a fifty day moving average of $329.51 and a 200-day moving average of $268.06. The company has a market capitalization of $4.45 billion, a PE ratio of 37.76 and a beta of 0.60.

Argan (NYSE:AGX) last issued its earnings results on Thursday, December 4th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.35. Argan had a return on equity of 31.38% and a net margin of 13.11%.The business had revenue of $251.15 million for the quarter, compared to analysts’ expectations of $251.50 million. During the same period in the previous year, the firm posted $2.00 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 22nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, January 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. Argan’s dividend payout ratio is currently 23.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Argan in a report on Tuesday, November 11th. They set a “buy” rating and a $397.00 price target on the stock. UBS Group set a $315.00 target price on shares of Argan in a research note on Monday, October 13th. Wall Street Zen upgraded Argan from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Zacks Research upgraded Argan from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 11th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $370.00 price target (up from $315.00) on shares of Argan in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Argan has a consensus rating of “Moderate Buy” and a consensus target price of $355.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AGX. Aster Capital Management DIFC Ltd purchased a new stake in shares of Argan during the 3rd quarter worth about $25,000. Danske Bank A S acquired a new position in Argan in the third quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new stake in Argan in the third quarter valued at approximately $32,000. National Bank of Canada FI grew its position in Argan by 26.7% in the third quarter. National Bank of Canada FI now owns 147 shares of the construction company’s stock worth $40,000 after acquiring an additional 31 shares in the last quarter. Finally, Palisade Asset Management LLC acquired a new position in shares of Argan during the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Argan Company Profile

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.