Argan, Inc. (NYSE:AGX) Director W G. Champion Mitchell Sells 13,143 Shares of Stock

Argan, Inc. (NYSE:AGX) Director W G. Champion Mitchell sold 13,143 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $60.17, for a total transaction of $790,814.31. Following the completion of the sale, the director now directly owns 5,197 shares in the company, valued at $312,703.49. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Argan Stock Up 1.3 %

Argan stock opened at $61.81 on Friday. The stock has a market cap of $818.36 million, a P/E ratio of 25.86 and a beta of 0.49. Argan, Inc. has a twelve month low of $37.37 and a twelve month high of $62.19. The company’s 50-day moving average price is $50.04 and its two-hundred day moving average price is $47.14.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, April 11th. The construction company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.14. The firm had revenue of $164.55 million for the quarter, compared to analysts’ expectations of $162.05 million. Argan had a net margin of 5.64% and a return on equity of 11.37%. The business’s revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.46) EPS.

Argan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 22nd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.20 annualized dividend and a yield of 1.94%. Argan’s dividend payout ratio is currently 50.21%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Argan by 12.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,264 shares of the construction company’s stock worth $1,024,000 after purchasing an additional 2,259 shares during the period. Cardinal Capital Management increased its holdings in shares of Argan by 25.4% during the first quarter. Cardinal Capital Management now owns 28,724 shares of the construction company’s stock worth $1,452,000 after purchasing an additional 5,820 shares during the period. Quadrature Capital Ltd increased its holdings in shares of Argan by 7.9% during the fourth quarter. Quadrature Capital Ltd now owns 16,754 shares of the construction company’s stock worth $785,000 after purchasing an additional 1,233 shares during the period. Vanguard Group Inc. increased its holdings in shares of Argan by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 714,009 shares of the construction company’s stock worth $33,408,000 after purchasing an additional 17,150 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Argan by 26.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 43,576 shares of the construction company’s stock worth $2,039,000 after purchasing an additional 9,219 shares during the period. 79.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AGX. StockNews.com raised shares of Argan from a “buy” rating to a “strong-buy” rating in a report on Monday, April 15th. Lake Street Capital upped their target price on shares of Argan from $61.00 to $70.00 and gave the company a “buy” rating in a report on Friday, April 12th.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.