Richard H. Deily Sells 2,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares in the company, 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 accessible through this hyperlink.

Argan Price Performance

Shares of AGX opened at $159.35 on Friday. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 33.34 and a beta of 0.56. Argan, Inc. has a 1-year low of $43.44 and a 1-year high of $165.33. The company has a 50-day moving average of $148.20 and a 200 day moving average of $110.02.

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

Argan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, January 23rd. Argan’s payout ratio is 31.38%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and lifted their price target for the stock from $85.00 to $150.00 in a research note on Tuesday, December 3rd. CJS Securities reaffirmed a “market perform” rating and set a $150.00 target price on shares of Argan in a research note on Friday, December 6th. Finally, StockNews.com lowered Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th.

Hedge Funds Weigh In On Argan

Several institutional investors have recently made changes to their positions in AGX. Wellington Management Group LLP grew its holdings in Argan by 81.8% during the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock worth $92,408,000 after acquiring an additional 409,948 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Argan by 31.8% during the second quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock valued at $22,336,000 after purchasing an additional 73,658 shares in the last quarter. Hood River Capital Management LLC bought a new position in shares of Argan during the second quarter valued at approximately $5,245,000. Lord Abbett & CO. LLC purchased a new position in Argan during the third quarter valued at approximately $6,687,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Argan by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company’s stock worth $11,586,000 after buying an additional 47,881 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.