James W. Quinn Sells 10,000 Shares of Argan Inc. (AGX) Stock
Argan Inc. (NYSE:AGX) Director James W. Quinn sold 10,000 shares of Argan stock in a transaction on Monday, September 19th. The shares were sold at an average price of $56.41, for a total value of $564,100.00. Following the sale, the director now directly owns 89,570 shares of the company’s stock, valued at $5,052,643.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Argan Inc. (NYSE:AGX) traded up 0.51% on Wednesday, hitting $56.95. The stock had a trading volume of 234,544 shares. The firm’s 50-day moving average is $49.54 and its 200-day moving average is $40.55. The company has a market cap of $856.07 million, a P/E ratio of 17.50 and a beta of 1.26. Argan Inc. has a 52-week low of $28.03 and a 52-week high of $57.22.
Argan (NYSE:AGX) last issued its quarterly earnings data on Tuesday, September 6th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.50. Argan had a return on equity of 21.27% and a net margin of 9.45%. The firm earned $162.50 million during the quarter. Equities research analysts anticipate that Argan Inc. will post $3.62 earnings per share for the current fiscal year.
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The firm also recently declared an annual dividend, which will be paid on Friday, October 28th. Shareholders of record on Tuesday, October 18th will be issued a $0.70 dividend. The ex-dividend date is Friday, October 14th. This represents a yield of 1.27%. Argan’s dividend payout ratio (DPR) is presently 21.41%.
AGX has been the subject of a number of research analyst reports. Zacks Investment Research raised Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 target price for the company in a research report on Thursday, September 8th. Lake Street Capital initiated coverage on Argan in a research report on Thursday, June 9th. They set a “buy” rating for the company.
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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