Argan, Inc. (NYSE:AGX) CFO Sells $300,000.00 in Stock

Argan, Inc. (NYSE:AGX - Get Free Report) CFO Richard H. Deily sold 2,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 9,367 shares of the company's stock, valued at $1,405,050. The trade was a 17.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Argan Trading Up 2.4 %

NYSE:AGX traded up $3.68 on Friday, reaching $159.35. 479,376 shares of the stock traded hands, compared to its average volume of 374,168. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 33.34 and a beta of 0.56. The company's 50 day moving average is $148.20 and its 200-day moving average is $109.79. Argan, Inc. has a 1-year low of $43.44 and a 1-year high of $165.33.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, topping the consensus estimate 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 company's revenue for the quarter was up 56.9% on a year-over-year basis.

Argan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 23rd will be issued a $0.375 dividend. 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 dividend payout ratio is currently 31.38%.

Hedge Funds Weigh In On Argan

A number of large investors have recently modified their holdings of AGX. Entropy Technologies LP lifted its stake in Argan by 108.6% during the 3rd quarter. Entropy Technologies LP now owns 7,104 shares of the construction company's stock valued at $721,000 after acquiring an additional 3,699 shares in the last quarter. Truist Financial Corp lifted its stake in Argan by 76.2% during the 2nd quarter. Truist Financial Corp now owns 12,552 shares of the construction company's stock valued at $918,000 after acquiring an additional 5,430 shares in the last quarter. State Street Corp increased its position in shares of Argan by 4.8% during the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company's stock valued at $35,905,000 after purchasing an additional 16,055 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Argan during the 3rd quarter valued at $1,373,000. Finally, Penn Mutual Asset Management increased its position in shares of Argan by 195.6% during the 3rd quarter. Penn Mutual Asset Management now owns 10,050 shares of the construction company's stock valued at $1,019,000 after purchasing an additional 6,650 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AGX shares. CJS Securities reaffirmed a "market perform" rating and issued a $150.00 price target on shares of Argan in a research note on Friday, December 6th. StockNews.com downgraded shares of Argan from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th. Finally, Lake Street Capital downgraded shares of Argan from a "buy" rating to a "hold" rating and upped their price objective for the company 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.