Rainer H. Bosselmann Sells 25,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 25,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $76.85, for a total value of $1,921,250.00. Following the transaction, the director now owns 272,719 shares of the company’s stock, valued at $20,958,455.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Argan Stock Performance

Shares of NYSE AGX opened at $77.60 on Wednesday. Argan, Inc. has a fifty-two week low of $37.37 and a fifty-two week high of $78.95. The firm has a market capitalization of $1.04 billion, a PE ratio of 27.62 and a beta of 0.45. The stock’s 50-day simple moving average is $66.42 and its 200-day simple moving average is $53.81.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, June 6th. The construction company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. The company had revenue of $157.70 million for the quarter, compared to analyst estimates of $134.75 million. Argan had a return on equity of 13.22% and a net margin of 6.08%. The firm’s revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share.

Argan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 22nd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.55%. Argan’s payout ratio is 42.70%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AGX shares. Lake Street Capital lifted their price objective on Argan from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, June 7th. StockNews.com cut Argan from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th.

Hedge Funds Weigh In On Argan

A number of institutional investors have recently made changes to their positions in AGX. Essex Investment Management Co. LLC acquired a new position in shares of Argan in the fourth quarter worth $2,300,000. Acadian Asset Management LLC acquired a new position in Argan in the third quarter valued at $1,298,000. Wesbanco Bank Inc. acquired a new position in Argan in the first quarter valued at $1,257,000. Los Angeles Capital Management LLC increased its stake in Argan by 120.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 45,260 shares of the construction company’s stock valued at $2,118,000 after purchasing an additional 24,769 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Argan in the third quarter valued at $708,000. 79.43% of the stock is owned by institutional investors and hedge funds.

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.