William F. Griffin, Jr. Sells 13,115 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Chairman William F. Griffin, Jr. sold 13,115 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $79.66, for a total value of $1,044,740.90. Following the transaction, the chairman now directly owns 157,604 shares in the company, valued at $12,554,734.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Argan Price Performance

AGX stock opened at $69.26 on Friday. The stock has a market capitalization of $924.62 million, a price-to-earnings ratio of 24.65 and a beta of 0.51. The business’s fifty day moving average price is $74.24 and its two-hundred day moving average price is $60.32. Argan, Inc. has a fifty-two week low of $38.41 and a fifty-two week high of $81.05.

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

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 23rd were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.73%. The ex-dividend date was Tuesday, July 23rd. Argan’s payout ratio is 42.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AGX. Essex Investment Management Co. LLC bought a new position in shares of Argan in the fourth quarter worth $2,300,000. Calamos Advisors LLC bought a new position in shares of Argan in the second quarter worth $1,831,000. Wesbanco Bank Inc. bought a new position in shares of Argan in the first quarter worth $1,257,000. Los Angeles Capital Management LLC increased its position in shares of Argan by 120.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 45,260 shares of the construction company’s stock worth $2,118,000 after purchasing an additional 24,769 shares during the period. Finally, Shaker Investments LLC OH bought a new position in shares of Argan in the second quarter worth $1,159,000. Institutional investors own 79.43% of the company’s stock.

Wall Street Analyst Weigh In

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

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.