Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger Sells 800 Shares of Stock

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 800 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the sale, the director now directly owns 19,177 shares of the company’s stock, valued at approximately $2,977,037.48. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Argan Stock Performance

NYSE:AGX opened at $167.62 on Wednesday. The firm has a 50-day simple moving average of $149.10 and a 200-day simple moving average of $111.51. Argan, Inc. has a one year low of $43.44 and a one year high of $176.85. The firm has a market cap of $2.28 billion, a P/E ratio of 35.07 and a beta of 0.56.

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

Argan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 yield of 0.89%. The ex-dividend date is Thursday, January 23rd. Argan’s payout ratio is currently 31.38%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Argan

Large investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Argan in the 2nd quarter valued at about $41,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Argan during the third quarter valued at approximately $43,000. Copeland Capital Management LLC purchased a new stake in Argan during the third quarter valued at approximately $56,000. Point72 DIFC Ltd acquired a new stake in Argan in the second quarter valued at approximately $70,000. Finally, nVerses Capital LLC purchased a new position in Argan in the third quarter worth $91,000. 79.43% of the stock is currently owned by institutional investors.

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.