Argan (NYSE:AGX) Director John Ronald Jr. Jeffrey Sells 5,000 Shares of Stock

Argan, Inc. (NYSE:AGX) Director John Ronald Jr. Jeffrey sold 5,000 shares of Argan stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $360.78, for a total value of $1,803,900.00. Following the completion of the sale, the director directly owned 8,192 shares in the company, valued at $2,955,509.76. This trade represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

John Ronald Jr. Jeffrey also recently made the following trade(s):

• On Tuesday, January 20th, John Ronald Jr. Jeffrey sold 2,700 shares of Argan stock. The shares were sold at an average price of $380.60, for a total value of $1,027,620.00.

Argan Stock Performance

NYSE:AGX traded down $4.33 during trading hours on Thursday, reaching $354.54. The stock had a trading volume of 375,381 shares, compared to its average volume of 351,925. The stock has a market capitalization of $4.92 billion, a PE ratio of 41.76 and a beta of 0.64. Argan, Inc. has a 52 week low of $101.02 and a 52 week high of $400.00. The company has a 50 day moving average price of $341.20 and a two-hundred day moving average price of $288.00.

Argan (NYSE:AGX) last posted its earnings results on Thursday, December 4th. The construction company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.35. The firm had revenue of $251.15 million during the quarter, compared to analyst estimates of $251.50 million. Argan had a net margin of 13.11% and a return on equity of 31.38%. Argan’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.00 earnings per share.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 22nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.6%. Argan’s dividend payout ratio (DPR) is presently 23.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AGX. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and lifted their target price for the stock from $260.00 to $325.00 in a report on Friday, December 5th. UBS Group set a $315.00 price objective on shares of Argan in a research report on Monday, October 13th. CJS Securities upgraded Argan to a “hold” rating in a report on Thursday, December 11th. Zacks Research upgraded shares of Argan from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Glj Research upgraded Argan from a “hold” rating to a “buy” rating and boosted their price target for the stock from $251.00 to $369.00 in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $355.20.

Hedge Funds Weigh In On Argan

Several institutional investors and hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in Argan during the third quarter worth approximately $25,000. Danske Bank A S purchased a new position in shares of Argan during the 3rd quarter valued at approximately $27,000. Accredited Wealth Management LLC acquired a new stake in Argan in the 3rd quarter valued at $32,000. USA Financial Formulas acquired a new stake in Argan in the 4th quarter valued at $40,000. Finally, National Bank of Canada FI increased its holdings in Argan by 26.7% in the 3rd quarter. National Bank of Canada FI now owns 147 shares of the construction company’s stock worth $40,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.