Argan, Inc. (NYSE:AGX) Director Sells $1,220,666.65 in Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director Peter W. Getsinger sold 7,385 shares of the firm's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the sale, the director now owns 11,792 shares of the company's stock, valued at approximately $1,949,099.68. This represents a 38.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Argan Stock Performance

NYSE:AGX traded up $11.57 during mid-day trading on Tuesday, reaching $167.62. 759,636 shares of the company's stock were exchanged, compared to its average volume of 422,937. Argan, Inc. has a one year low of $43.44 and a one year high of $176.85. The firm has a market capitalization of $2.28 billion, a PE ratio of 35.07 and a beta of 0.56. The business's fifty day simple moving average is $148.58 and its two-hundred day simple moving average is $110.85.

Argan (NYSE:AGX - Get Free Report) last issued its earnings results on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.26 by $0.74. The company had revenue of $257.00 million during the quarter, compared to analysts' expectations of $225.60 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm's revenue was up 56.9% compared to the same quarter last year.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, January 23rd. Argan's payout ratio is presently 31.38%.

Analysts Set New Price Targets

AGX has been the topic of a number of recent research reports. StockNews.com lowered shares of Argan from a "buy" rating to a "hold" rating in a research report on Tuesday, October 29th. CJS Securities reaffirmed a "market perform" rating and set a $150.00 price target on shares of Argan in a research report on Friday, December 6th. Finally, Lake Street Capital lowered shares of Argan from a "buy" rating to a "hold" rating and raised their price target for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd.

Hedge Funds Weigh In On Argan

Several hedge funds and other institutional investors have recently made changes to their positions in AGX. Arizona State Retirement System acquired a new position in shares of Argan in the 2nd quarter valued at approximately $258,000. Quest Partners LLC increased its position in Argan by 3,321.4% during the 2nd quarter. Quest Partners LLC now owns 1,916 shares of the construction company's stock worth $140,000 after purchasing an additional 1,860 shares in the last quarter. American Century Companies Inc. increased its position in Argan by 31.8% during the 2nd quarter. American Century Companies Inc. now owns 305,298 shares of the construction company's stock worth $22,336,000 after purchasing an additional 73,658 shares in the last quarter. Renaissance Technologies LLC increased its position in Argan by 7.7% during the 2nd quarter. Renaissance Technologies LLC now owns 537,296 shares of the construction company's stock worth $39,309,000 after purchasing an additional 38,300 shares in the last quarter. Finally, L & S Advisors Inc acquired a new position in Argan during the 2nd quarter worth approximately $1,273,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

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.

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