Argan, Inc. (NYSE:AGX) CFO Sells $300,000.00 in Stock

Argan, Inc. (NYSE:AGX) CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 9,367 shares of the company’s stock, valued at $1,405,050. This trade represents a 17.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Argan Trading Up 2.4 %

Shares of AGX stock traded up $3.68 on Friday, reaching $159.35. The company had a trading volume of 478,526 shares, compared to its average volume of 361,781. The company has a 50-day moving average of $147.75 and a 200-day moving average of $109.21. Argan, Inc. has a 12 month low of $43.44 and a 12 month high of $165.33. The stock has a market cap of $2.16 billion, a PE ratio of 33.34 and a beta of 0.56.

Argan (NYSE:AGX) last announced its quarterly earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.74. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $225.60 million. Argan’s quarterly revenue was up 56.9% on a year-over-year basis.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, January 23rd. Argan’s dividend payout ratio (DPR) is presently 31.38%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com cut Argan from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. CJS Securities restated a “market perform” rating and issued a $150.00 price objective on shares of Argan in a report on Friday, December 6th. Finally, Lake Street Capital lowered shares of Argan from a “buy” rating to a “hold” rating and lifted their target price for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd.

Institutional Trading of Argan

Large investors have recently bought and sold shares of the business. CWA Asset Management Group LLC boosted its holdings in shares of Argan by 16.0% in the fourth quarter. CWA Asset Management Group LLC now owns 16,663 shares of the construction company’s stock valued at $2,284,000 after buying an additional 2,303 shares during the period. JPMorgan Chase & Co. boosted its stake in Argan by 70.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company’s stock worth $3,836,000 after purchasing an additional 15,681 shares during the period. Principal Financial Group Inc. bought a new position in Argan during the 3rd quarter worth about $1,373,000. Lord Abbett & CO. LLC acquired a new stake in shares of Argan in the 3rd quarter valued at about $6,687,000. Finally, Franklin Resources Inc. boosted its position in shares of Argan by 51.0% during the third quarter. Franklin Resources Inc. now owns 22,406 shares of the construction company’s stock worth $2,273,000 after buying an additional 7,564 shares during the period. 79.43% of the stock is owned by institutional investors.

Argan Company Profile

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.