Insider Selling: Argan, Inc. (NYSE:AGX) Director Sells 800 Shares of Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director Peter W. Getsinger sold 800 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the sale, the director now directly owns 19,177 shares of the company's stock, valued at $2,977,037.48. This represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Argan Trading Up 7.4 %

NYSE:AGX traded up $11.57 on Tuesday, hitting $167.62. The company had a trading volume of 759,636 shares, compared to its average volume of 422,937. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 35.07 and a beta of 0.56. The firm has a 50 day moving average of $148.58 and a two-hundred day moving average of $110.85. Argan, Inc. has a 52 week low of $43.44 and a 52 week high of $176.85.

Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings data 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 business 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 was up 56.9% on a year-over-year basis.

Argan Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AGX shares. CJS Securities reissued a "market perform" rating and issued a $150.00 price objective on shares of Argan in a report on Friday, December 6th. Lake Street Capital downgraded shares of Argan from a "buy" rating to a "hold" rating and upped their price target for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd. Finally, StockNews.com downgraded shares of Argan from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th.

Hedge Funds Weigh In On Argan

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Argan by 81.8% during the third quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company's stock valued at $92,408,000 after acquiring an additional 409,948 shares during the last quarter. American Century Companies Inc. increased its position in shares of Argan by 31.8% during the second quarter. American Century Companies Inc. now owns 305,298 shares of the construction company's stock worth $22,336,000 after buying an additional 73,658 shares during the period. Hood River Capital Management LLC acquired a new stake in shares of Argan during the second quarter worth $5,245,000. Lord Abbett & CO. LLC acquired a new stake in shares of Argan during the third quarter worth $6,687,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Argan by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company's stock worth $11,586,000 after purchasing an additional 47,881 shares during the period. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.