Insider Selling: Argan, Inc. (NYSE:AGX) Director Sells 25,000 Shares of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Argan Trading Up 3.6 %

NYSE AGX opened at $72.25 on Friday. The stock’s 50-day moving average price is $71.05 and its two-hundred day moving average price is $57.00. The company has a market cap of $964.54 million, a PE ratio of 25.71 and a beta of 0.51. Argan, Inc. has a 1 year low of $37.37 and a 1 year high of $78.95.

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

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 23rd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, July 23rd. This represents a $1.20 annualized dividend and a yield of 1.66%. Argan’s dividend payout ratio (DPR) is presently 42.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AGX shares. StockNews.com cut shares of Argan from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. Lake Street Capital boosted their price objective on Argan from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, June 7th.

Hedge Funds Weigh In On Argan

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System purchased a new position in Argan during the 4th quarter valued at about $53,000. DekaBank Deutsche Girozentrale purchased a new position in Argan during the 4th quarter valued at about $64,000. EntryPoint Capital LLC purchased a new position in Argan during the 1st quarter valued at about $95,000. CWM LLC grew its stake in Argan by 84.6% during the 2nd quarter. CWM LLC now owns 2,457 shares of the construction company’s stock valued at $180,000 after acquiring an additional 1,126 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Argan by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,656 shares of the construction company’s stock valued at $286,000 after acquiring an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

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.