Argan, Inc. (NYSE:AGX) CEO Sells $69,945.00 in Stock

Argan, Inc. (NYSE:AGX - Get Free Report) CEO David Hibbert Watson sold 500 shares of Argan stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $139.89, for a total value of $69,945.00. Following the completion of the sale, the chief executive officer now directly owns 68,636 shares of the company's stock, valued at approximately $9,601,490.04. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Argan Trading Up 0.4 %

NYSE:AGX traded up $0.55 during trading hours on Friday, reaching $149.21. The company had a trading volume of 64,109 shares, compared to its average volume of 299,003. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 31.21 and a beta of 0.45. The firm's 50 day moving average price is $129.74 and its 200-day moving average price is $140.10. Argan, Inc. has a 52 week low of $60.03 and a 52 week high of $191.46.

Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.15 by $1.07. The company had revenue of $232.47 million during the quarter, compared to analyst estimates of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business's revenue was up 41.3% compared to the same quarter last year.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Tuesday, April 22nd. Argan's payout ratio is currently 24.55%.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upgraded shares of Argan from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a research note on Friday, March 28th.

Hedge Funds Weigh In On Argan

Several institutional investors have recently made changes to their positions in the business. Spire Wealth Management purchased a new position in shares of Argan during the 4th quarter worth $26,000. Farther Finance Advisors LLC bought a new position in Argan in the 4th quarter worth $32,000. Global Retirement Partners LLC bought a new position in Argan in the 4th quarter worth $35,000. McIlrath & Eck LLC lifted its position in Argan by 419.4% during the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock valued at $51,000 after purchasing an additional 302 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Argan during the fourth quarter valued at about $57,000. Institutional investors own 79.43% of the company's stock.

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.