Argan (NYSE:AGX) Director William Leimkuhler Sells 11,044 Shares

Argan, Inc. (NYSE:AGX) Director William Leimkuhler sold 11,044 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $379.15, for a total value of $4,187,332.60. Following the completion of the transaction, the director owned 49,939 shares of the company’s stock, valued at approximately $18,934,371.85. This represents a 18.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Argan Price Performance

Shares of AGX traded up $12.84 during midday trading on Wednesday, hitting $397.18. 398,208 shares of the company traded hands, compared to its average volume of 363,070. The stock has a 50-day moving average of $339.02 and a 200-day moving average of $281.72. Argan, Inc. has a one year low of $101.02 and a one year high of $399.30. The firm has a market cap of $5.51 billion, a P/E ratio of 46.78 and a beta of 0.64.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, December 4th. The construction company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.35. The company 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 was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.00 earnings per share.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders 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 annualized dividend and a dividend yield of 0.5%. Argan’s dividend payout ratio (DPR) is presently 23.56%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Zacks Research upgraded shares of Argan from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 11th. Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and boosted their price target for the stock from $260.00 to $325.00 in a research note on Friday, December 5th. Glj Research upgraded shares of Argan from a “hold” rating to a “buy” rating and raised their price objective for the company from $251.00 to $369.00 in a research report on Monday, November 10th. CJS Securities upgraded shares of Argan to a “hold” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $370.00 target price (up previously from $315.00) on shares of Argan in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Argan presently has a consensus 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 added to or reduced their stakes in AGX. Millennium Management LLC grew its position in shares of Argan by 12.2% in the 1st quarter. Millennium Management LLC now owns 117,805 shares of the construction company’s stock worth $15,452,000 after buying an additional 12,854 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Argan by 118.3% in the first quarter. NewEdge Advisors LLC now owns 5,316 shares of the construction company’s stock worth $697,000 after buying an additional 2,881 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Argan by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,567 shares of the construction company’s stock worth $4,665,000 after acquiring an additional 4,196 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Argan by 37.3% in the 1st quarter. Intech Investment Management LLC now owns 8,985 shares of the construction company’s stock valued at $1,179,000 after purchasing an additional 2,442 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Argan by 6.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,253 shares of the construction company’s stock valued at $898,000 after purchasing an additional 276 shares in the last quarter. 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.