Argan, Inc. (NYSE:AGX) Director Sells $166,833.00 in Stock

Argan, Inc. (NYSE:AGX) Director Mano S. Koilpillai sold 2,700 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $61.79, for a total transaction of $166,833.00. Following the completion of the transaction, the director now owns 7,608 shares in the company, valued at $470,098.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Argan Stock Performance

Shares of AGX stock opened at $61.99 on Friday. The firm’s 50 day moving average price is $51.54 and its 200-day moving average price is $47.66. Argan, Inc. has a one year low of $37.37 and a one year high of $62.69. The firm has a market cap of $820.75 million, a P/E ratio of 25.94 and a beta of 0.49.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, April 11th. The construction company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.75 by $0.14. Argan had a net margin of 5.64% and a return on equity of 11.37%. The firm had revenue of $164.55 million for the quarter, compared to analyst estimates of $162.05 million. During the same period in the prior year, the business posted ($0.46) EPS. The business’s revenue for the quarter was up 38.5% compared to the same quarter last year.

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 22nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, April 19th. Argan’s payout ratio is currently 50.21%.

Institutional Investors Weigh In On Argan

Several large investors have recently added to or reduced their stakes in AGX. New York State Teachers Retirement System purchased a new stake in Argan during the 4th quarter worth approximately $53,000. DekaBank Deutsche Girozentrale purchased a new stake in Argan during the 4th quarter worth approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Argan by 68.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,720 shares of the construction company’s stock worth $169,000 after buying an additional 1,511 shares during the period. SG Americas Securities LLC purchased a new stake in Argan during the 3rd quarter worth approximately $265,000. Finally, Watershed Asset Management L.L.C. purchased a new stake in Argan during the 3rd quarter worth approximately $268,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on AGX. StockNews.com upgraded shares of Argan from a “buy” rating to a “strong-buy” rating in a report on Monday, April 15th. Lake Street Capital upped their price objective on shares of Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, April 12th.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.