Argan, Inc. (AGX) Director Acquires $68,020.00 in Stock
Argan, Inc. (NYSE:AGX) Director John Ronald Jr. Jeffrey purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was acquired at an average price of $68.02 per share, for a total transaction of $68,020.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
John Ronald Jr. Jeffrey also recently made the following trade(s):
- On Tuesday, September 19th, John Ronald Jr. Jeffrey acquired 1,500 shares of Argan stock. The stock was purchased at an average cost of $62.49 per share, with a total value of $93,735.00.
Shares of Argan, Inc. (NYSE:AGX) traded up 1.20% during mid-day trading on Wednesday, reaching $67.20. The company had a trading volume of 140,368 shares. The company’s 50-day moving average price is $65.11 and its 200-day moving average price is $64.06. The company has a market capitalization of $1.04 billion, a PE ratio of 12.38 and a beta of 0.92. Argan, Inc. has a 52-week low of $54.00 and a 52-week high of $76.70.
Argan (NYSE:AGX) last released its earnings results on Thursday, September 7th. The construction company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.69. Argan had a net margin of 10.51% and a return on equity of 33.02%. The business had revenue of $259.80 million during the quarter, compared to analysts’ expectations of $217.75 million. During the same quarter last year, the company earned $1.29 earnings per share. The firm’s revenue was up 59.9% on a year-over-year basis. On average, analysts forecast that Argan, Inc. will post $4.82 earnings per share for the current fiscal year.
The business also recently announced an annual dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 20th will be paid a $1.00 dividend. This represents a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, October 19th. This is a boost from Argan’s previous annual dividend of $0.70. Argan’s dividend payout ratio (DPR) is presently 18.25%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of Argan by 1.4% in the second quarter. FMR LLC now owns 477,225 shares of the construction company’s stock valued at $28,634,000 after buying an additional 6,400 shares during the period. Morgan Stanley lifted its stake in shares of Argan by 5.2% in the first quarter. Morgan Stanley now owns 191,154 shares of the construction company’s stock valued at $12,644,000 after buying an additional 9,464 shares during the period. Seizert Capital Partners LLC lifted its stake in shares of Argan by 44.9% in the second quarter. Seizert Capital Partners LLC now owns 45,302 shares of the construction company’s stock valued at $2,718,000 after buying an additional 14,031 shares during the period. First Trust Advisors LP lifted its stake in shares of Argan by 32.0% in the second quarter. First Trust Advisors LP now owns 114,797 shares of the construction company’s stock valued at $6,888,000 after buying an additional 27,856 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Argan by 9.0% in the second quarter. Swiss National Bank now owns 24,300 shares of the construction company’s stock valued at $1,458,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 87.02% of the company’s stock.
Several analysts recently weighed in on AGX shares. Sidoti started coverage on Argan in a report on Wednesday, June 28th. They issued a “neutral” rating for the company. BidaskClub raised Argan from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th.
Argan Company Profile
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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