Aegion Corp (AEGN) CFO Sells $240,000.00 in Stock
Aegion Corp (NASDAQ:AEGN) CFO David A. Martin sold 10,000 shares of Aegion Corp stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief financial officer now owns 101,430 shares in the company, valued at approximately $2,434,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Aegion Corp (NASDAQ AEGN) traded up $2.28 on Friday, reaching $25.57. 386,015 shares of the company were exchanged, compared to its average volume of 190,126. The stock has a market cap of $831.71 million, a price-to-earnings ratio of 19.98 and a beta of 1.68.
Aegion Corp (NASDAQ:AEGN) last posted its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The firm had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.98 million. Aegion Corp had a negative net margin of 3.03% and a positive return on equity of 7.40%. Aegion Corp’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. sell-side analysts predict that Aegion Corp will post 1.04 earnings per share for the current year.
Aegion Corp declared that its Board of Directors has approved a share repurchase program on Wednesday, November 1st that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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A number of hedge funds have recently modified their holdings of AEGN. Wells Fargo & Company MN raised its stake in Aegion Corp by 0.6% during the first quarter. Wells Fargo & Company MN now owns 25,867 shares of the construction company’s stock worth $592,000 after purchasing an additional 150 shares during the period. SG Americas Securities LLC purchased a new position in Aegion Corp during the first quarter worth about $119,000. OppenheimerFunds Inc. raised its stake in Aegion Corp by 33.3% during the first quarter. OppenheimerFunds Inc. now owns 40,594 shares of the construction company’s stock worth $930,000 after purchasing an additional 10,130 shares during the period. Principal Financial Group Inc. raised its stake in Aegion Corp by 3.6% during the first quarter. Principal Financial Group Inc. now owns 290,195 shares of the construction company’s stock worth $6,648,000 after purchasing an additional 9,984 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new position in Aegion Corp during the first quarter worth about $363,000. 88.89% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on AEGN. TheStreet upgraded shares of Aegion Corp from a “c+” rating to a “b” rating in a research report on Tuesday, August 1st. Canaccord Genuity lifted their target price on shares of Aegion Corp from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Friday. BidaskClub upgraded shares of Aegion Corp from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Stifel Nicolaus restated a “hold” rating and set a $23.50 price target on shares of Aegion Corp in a research report on Monday, August 7th. Finally, Zacks Investment Research upgraded shares of Aegion Corp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Aegion Corp currently has a consensus rating of “Buy” and a consensus price target of $25.50.
Aegion Corp Company Profile
Aegion Corporation (Aegion) is engaged in providing infrastructure protection and maintenance. The Company operates through three segments: Infrastructure Solutions, Corrosion Protection and Energy Services. The Company offers service solutions, including rehabilitation of water and wastewater pipelines with Insituform cured-in-place pipe (CIPP) products; fusible polyvinyl chloride products for rehabilitation; fiber reinforced polymer systems for rehabilitation and strengthening; cathodic protection for corrosion engineering control and infrastructure rehabilitation; pipe coatings for corrosion control and prevention; high density polyethylene (HDPE) pipe lining for corrosion control, abrasion protection and pipeline rehabilitation, and construction and maintenance of oil and gas facilities.
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