Peter W. Getsinger Sells 5,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director Peter W. Getsinger sold 5,000 shares of Argan stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total transaction of $725,150.00. Following the completion of the sale, the director now owns 11,496 shares of the company's stock, valued at $1,667,264.88. This trade represents a 30.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Argan Stock Performance

Shares of NYSE:AGX traded down $16.17 during trading on Monday, reaching $129.83. The stock had a trading volume of 607,902 shares, compared to its average volume of 297,828. Argan, Inc. has a 1-year low of $60.03 and a 1-year high of $191.46. The business has a fifty day moving average price of $130.57 and a 200-day moving average price of $139.72. The stock 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 released its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $232.47 million for the quarter, compared to analyst estimates of $197.50 million. The business's revenue for the quarter was up 41.3% compared to the same quarter last year.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's payout ratio is 24.55%.

Analysts Set New Price Targets

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

Institutional Trading of Argan

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Argan by 68.2% during the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company's stock worth $105,000 after buying an additional 419 shares during the period. State Street Corp boosted its stake in Argan by 4.8% in the third quarter. State Street Corp now owns 353,984 shares of the construction company's stock valued at $35,905,000 after acquiring an additional 16,055 shares in the last quarter. Barclays PLC grew its stake in Argan by 46.6% during the 3rd quarter. Barclays PLC now owns 66,341 shares of the construction company's stock worth $6,728,000 after buying an additional 21,094 shares during the last quarter. Geode Capital Management LLC boosted its stake in Argan by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company's stock worth $29,141,000 after purchasing an additional 1,553 shares during the period. Finally, Franklin Resources Inc. increased its stake in Argan by 51.0% in the third quarter. Franklin Resources Inc. now owns 22,406 shares of the construction company's stock valued at $2,273,000 after purchasing an additional 7,564 shares during the period. Institutional investors and hedge funds own 79.43% of the company's stock.

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.