Peter W. Getsinger Sells 2,292 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director Peter W. Getsinger sold 2,292 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $150.35, for a total transaction of $344,602.20. Following the transaction, the director now directly owns 9,500 shares in the company, valued at $1,428,325. The trade was a 19.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Argan Price Performance

Argan stock traded down $16.17 during midday trading on Monday, hitting $129.83. 607,902 shares of the company were exchanged, compared to its average volume of 297,828. Argan, Inc. has a fifty-two week low of $60.03 and a fifty-two week high of $191.46. The company's fifty day moving average price is $130.57 and its 200-day moving average price is $139.72. The company has a market cap of $1.77 billion, a PE ratio of 27.16 and a beta of 0.45.

Argan (NYSE:AGX - Get Free Report) last announced its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.07. Argan had a net margin of 8.20% and a return on equity of 21.66%. The business had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. Argan's revenue for the quarter 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. Investors of record on Tuesday, April 22nd will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's dividend payout ratio is currently 24.55%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Spire Wealth Management bought a new position in Argan during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC bought a new position in Argan during the fourth quarter worth $32,000. Global Retirement Partners LLC acquired a new position in Argan in the fourth quarter worth $35,000. McIlrath & Eck LLC raised its holdings in shares of Argan by 419.4% during the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock worth $51,000 after purchasing an additional 302 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of Argan during the fourth quarter worth $57,000. 79.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.