Insider Selling: Argan, Inc. (NYSE:AGX) Director Sells 7,385 Shares of Stock

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 7,385 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the sale, the director now owns 11,792 shares in the company, valued at $1,949,099.68. This represents a 38.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Argan Stock Performance

Shares of AGX opened at $167.62 on Wednesday. The firm has a market cap of $2.28 billion, a P/E ratio of 35.07 and a beta of 0.56. Argan, Inc. has a twelve month low of $43.44 and a twelve month high of $176.85. The firm’s 50 day moving average price is $149.10 and its two-hundred day moving average price is $111.51.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 EPS 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 business had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $225.60 million. The firm’s quarterly revenue was up 56.9% compared to the same quarter last year.

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 23rd will be issued a dividend of $0.375 per share. The ex-dividend date is Thursday, January 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.89%. Argan’s payout ratio is presently 31.38%.

Institutional Investors Weigh In On Argan

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Prime Capital Investment Advisors LLC grew its stake in shares of Argan by 1.8% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,796 shares of the construction company’s stock worth $486,000 after acquiring an additional 86 shares in the last quarter. FMR LLC boosted its holdings in Argan by 68.2% during the third quarter. FMR LLC now owns 1,033 shares of the construction company’s stock worth $105,000 after purchasing an additional 419 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Argan in the third quarter valued at $43,000. Creative Planning grew its position in Argan by 5.2% in the third quarter. Creative Planning now owns 10,616 shares of the construction company’s stock valued at $1,077,000 after purchasing an additional 521 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Argan by 21.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,009 shares of the construction company’s stock valued at $305,000 after buying an additional 532 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.