Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger Sells 5,000 Shares

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 5,000 shares of the company’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total transaction of $725,150.00. Following the sale, the director now directly owns 11,496 shares of the company’s stock, valued at approximately $1,667,264.88. This represents a 30.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Argan Trading Down 1.7 %

Shares of NYSE AGX opened at $146.19 on Friday. Argan, Inc. has a one year low of $59.89 and a one year high of $191.46. The business has a fifty day simple moving average of $130.66 and a 200 day simple moving average of $138.90. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 30.58 and a beta of 0.45.

Argan (NYSE:AGX) last issued its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.07. The business had revenue of $232.47 million for the quarter, compared to analyst estimates of $197.50 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. Argan’s revenue for the quarter was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.03%. The ex-dividend date is Tuesday, April 22nd. Argan’s dividend payout ratio is 24.55%.

Analyst Ratings Changes

Separately, Lake Street Capital raised Argan from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Friday, March 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AGX. FMR LLC lifted its holdings in Argan by 68.2% during the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company’s stock valued at $105,000 after purchasing an additional 419 shares during the last quarter. State Street Corp raised its position in Argan by 4.8% in the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company’s stock valued at $35,905,000 after purchasing an additional 16,055 shares during the last quarter. Barclays PLC boosted its stake in Argan by 46.6% in the third quarter. Barclays PLC now owns 66,341 shares of the construction company’s stock worth $6,728,000 after purchasing an additional 21,094 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Argan by 0.5% during the third quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company’s stock worth $29,141,000 after purchasing an additional 1,553 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Argan by 51.0% in the third quarter. Franklin Resources Inc. now owns 22,406 shares of the construction company’s stock valued at $2,273,000 after buying an additional 7,564 shares during the last quarter. 79.43% of the stock is owned by institutional investors.

About Argan

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.