Argan, Inc. (NYSE:AGX) Director Sells $1,314,660.50 in Stock

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 10,105 shares of Argan stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $130.10, for a total value of $1,314,660.50. Following the transaction, the director now owns 219,879 shares of the company’s stock, valued at $28,606,257.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Argan Trading Up 0.4 %

Shares of NYSE:AGX traded up $0.51 during trading on Monday, reaching $129.30. 294,721 shares of the stock were exchanged, compared to its average volume of 156,049. Argan, Inc. has a 12 month low of $39.74 and a 12 month high of $135.85. The firm has a market cap of $1.73 billion, a PE ratio of 46.99 and a beta of 0.53. The stock has a 50-day moving average price of $91.88 and a 200-day moving average price of $77.01.

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

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 dividend of $0.375 per share. This is an increase from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 annualized dividend and a yield of 1.16%. The ex-dividend date is Wednesday, October 23rd. Argan’s payout ratio is currently 53.38%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AGX. Cardinal Capital Management increased its holdings in shares of Argan by 25.4% during the first quarter. Cardinal Capital Management now owns 28,724 shares of the construction company’s stock worth $1,452,000 after buying an additional 5,820 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Argan by 12.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,264 shares of the construction company’s stock worth $1,024,000 after purchasing an additional 2,259 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Argan by 18.3% in the first quarter. BNP Paribas Financial Markets now owns 10,426 shares of the construction company’s stock worth $527,000 after purchasing an additional 1,611 shares during the last quarter. Vanguard Group Inc. boosted its position in Argan by 1.7% during the first quarter. Vanguard Group Inc. now owns 726,171 shares of the construction company’s stock valued at $36,701,000 after acquiring an additional 12,162 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Argan by 2.2% during the first quarter. Acadian Asset Management LLC now owns 131,987 shares of the construction company’s stock valued at $6,668,000 after acquiring an additional 2,778 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

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.