Insider Selling: Argan, Inc. (NYSE:AGX) Director Sells $1,788,000.00 in Stock

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 25,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $71.52, for a total transaction of $1,788,000.00. Following the completion of the sale, the director now owns 273,916 shares in the company, valued at $19,590,472.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Argan Trading Up 3.6 %

NYSE:AGX opened at $72.25 on Friday. Argan, Inc. has a 12-month low of $37.37 and a 12-month high of $78.95. The company’s 50-day moving average is $71.05 and its two-hundred day moving average is $57.00. The firm has a market cap of $964.54 million, a price-to-earnings ratio of 25.71 and a beta of 0.51.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, June 6th. The construction company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Argan had a net margin of 6.08% and a return on equity of 13.22%. The company had revenue of $157.70 million during the quarter, compared to the consensus estimate of $134.75 million. During the same quarter in the prior year, the company posted ($0.05) EPS. The company’s quarterly revenue was up 52.1% compared to the same quarter last year.

Argan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 23rd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, July 23rd. Argan’s dividend payout ratio is currently 42.70%.

Wall Street Analysts Forecast Growth

AGX has been the topic of a number of recent research reports. StockNews.com lowered shares of Argan from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th. Lake Street Capital upped their target price on shares of Argan from $70.00 to $85.00 and gave the company a “buy” rating in a report on Friday, June 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC increased its stake in shares of Argan by 120.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 45,260 shares of the construction company’s stock valued at $2,118,000 after acquiring an additional 24,769 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Argan by 360.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 18,005 shares of the construction company’s stock worth $842,000 after purchasing an additional 14,092 shares in the last quarter. SG Americas Securities LLC increased its position in Argan by 18.8% during the 4th quarter. SG Americas Securities LLC now owns 6,918 shares of the construction company’s stock worth $324,000 after purchasing an additional 1,093 shares in the last quarter. Trexquant Investment LP acquired a new stake in Argan during the 4th quarter worth approximately $623,000. Finally, Teacher Retirement System of Texas increased its position in Argan by 91.6% during the 4th quarter. Teacher Retirement System of Texas now owns 18,210 shares of the construction company’s stock worth $852,000 after purchasing an additional 8,704 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

About Argan

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.