Argan, Inc. (NYSE:AGX) CFO Richard H. Deily Sells 2,000 Shares

Argan, Inc. (NYSE:AGX) CFO Richard H. Deily sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares of the company’s stock, valued at approximately $1,405,050. The trade was a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Argan Stock Up 2.4 %

Argan stock traded up $3.68 on Friday, hitting $159.35. The company’s stock had a trading volume of 478,526 shares, compared to its average volume of 361,781. Argan, Inc. has a one year low of $43.44 and a one year high of $165.33. The firm has a market cap of $2.16 billion, a P/E ratio of 33.34 and a beta of 0.56. The company has a fifty day moving average price of $147.75 and a 200-day moving average price of $109.21.

Argan (NYSE:AGX) last posted its earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.74. The business had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $225.60 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company’s revenue was up 56.9% on a year-over-year basis.

Argan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 23rd will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $1.50 annualized dividend and a dividend yield of 0.94%. Argan’s dividend payout ratio (DPR) is presently 31.38%.

Institutional Trading of Argan

Institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Argan during the 2nd quarter valued at $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Argan in the third quarter valued at $43,000. Copeland Capital Management LLC bought a new position in shares of Argan in the third quarter valued at about $56,000. Point72 DIFC Ltd bought a new position in shares of Argan in the second quarter valued at about $70,000. Finally, nVerses Capital LLC acquired a new position in Argan during the 3rd quarter worth about $91,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AGX shares. StockNews.com downgraded shares of Argan from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and boosted their price target for the company from $85.00 to $150.00 in a research note on Tuesday, December 3rd. Finally, CJS Securities reaffirmed a “market perform” rating and issued a $150.00 price target on shares of Argan in a report on Friday, December 6th.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.