Argan (NYSE:AGX) Director John Ronald Jr. Jeffrey Sells 2,700 Shares

Argan, Inc. (NYSE:AGX) Director John Ronald Jr. Jeffrey sold 2,700 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $380.60, for a total transaction of $1,027,620.00. Following the transaction, the director owned 13,192 shares in the company, valued at $5,020,875.20. This trade represents a 16.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Argan Price Performance

Shares of Argan stock traded up $12.84 during trading on Wednesday, hitting $397.18. The stock had a trading volume of 398,208 shares, compared to its average volume of 363,070. The firm’s fifty day simple moving average is $339.02 and its 200-day simple moving average is $281.72. The stock has a market cap of $5.51 billion, a PE ratio of 46.78 and a beta of 0.64. Argan, Inc. has a 12 month low of $101.02 and a 12 month high of $399.30.

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

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 22nd will be issued a $0.50 dividend. The ex-dividend date is Thursday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.5%. Argan’s dividend payout ratio is presently 23.56%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AGX. UBS Group set a $315.00 price objective on Argan in a report on Monday, October 13th. The Goldman Sachs Group began coverage on shares of Argan in a report on Tuesday, November 11th. They issued a “buy” rating and a $397.00 price target on the stock. Weiss Ratings reiterated a “buy (b+)” rating on shares of Argan in a research note on Wednesday, December 24th. Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and increased their target price for the company from $260.00 to $325.00 in a research report on Friday, December 5th. Finally, Glj Research raised shares of Argan from a “hold” rating to a “buy” rating and lifted their price target for the stock from $251.00 to $369.00 in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $355.20.

Institutional Investors Weigh In On Argan

A number of large investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Argan in the third quarter worth $25,000. Danske Bank A S acquired a new position in Argan in the 3rd quarter worth about $27,000. Accredited Wealth Management LLC acquired a new position in shares of Argan during the 3rd quarter worth approximately $32,000. USA Financial Formulas acquired a new stake in shares of Argan in the fourth quarter valued at about $40,000. Finally, National Bank of Canada FI boosted 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 buying an additional 31 shares during 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.