Rainer H. Bosselmann Sells 10,105 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 10,105 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $130.10, for a total value of $1,314,660.50. Following the completion of the transaction, the director now directly owns 219,879 shares of the company’s stock, valued at approximately $28,606,257.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Argan Price Performance

Shares of AGX traded up $0.51 during mid-day trading on Monday, reaching $129.30. The company had a trading volume of 294,721 shares, compared to its average volume of 156,049. Argan, Inc. has a twelve month low of $39.74 and a twelve month high of $135.85. The company’s 50-day moving average is $91.88 and its 200-day moving average is $77.01. The company has a market capitalization of $1.73 billion, a P/E ratio of 46.99 and a beta of 0.53.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. Argan had a return on equity of 14.80% and a net margin of 6.11%. The firm had revenue of $227.02 million during the quarter, compared to analysts’ expectations of $191.05 million. Argan’s quarterly revenue was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.16%. This is a positive change from Argan’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, October 23rd. Argan’s dividend payout ratio (DPR) is presently 53.38%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Argan during the 2nd quarter worth $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Argan in the 3rd quarter valued at about $43,000. Copeland Capital Management LLC acquired a new stake in shares of Argan in the 3rd quarter valued at about $56,000. Point72 DIFC Ltd acquired a new stake in shares of Argan in the second quarter valued at about $70,000. Finally, nVerses Capital LLC acquired a new stake in shares of Argan in the third quarter valued at about $91,000. 79.43% of the stock is currently owned by institutional investors.

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.