James W. Quinn Sells 10,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director James W. Quinn sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $89.68, for a total value of $896,800.00. Following the completion of the sale, the director now owns 70,422 shares of the company’s stock, valued at $6,315,444.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Argan Stock Down 0.1 %

AGX stock opened at $88.70 on Friday. Argan, Inc. has a twelve month low of $39.74 and a twelve month high of $95.73. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 31.57 and a beta of 0.51. The business’s fifty day simple moving average is $75.72 and its two-hundred day simple moving average is $66.46.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. The company had revenue of $227.02 million during the quarter, compared to analyst estimates of $191.05 million. Argan had a net margin of 6.11% and a return on equity of 14.80%. The business’s revenue was up 60.6% compared to the same quarter last year.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 23rd were paid a $0.30 dividend. The ex-dividend date was Tuesday, July 23rd. This represents a $1.20 annualized dividend and a yield of 1.35%. Argan’s dividend payout ratio (DPR) is currently 42.70%.

Institutional Investors Weigh In On Argan

Institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Argan by 31.8% during the 2nd quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock worth $22,336,000 after buying an additional 73,658 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in Argan in the second quarter worth about $5,245,000. Deprince Race & Zollo Inc. bought a new position in Argan during the 2nd quarter worth about $3,168,000. Marshall Wace LLP purchased a new position in Argan during the 2nd quarter valued at about $3,166,000. Finally, Acadian Asset Management LLC increased its position in Argan by 32.8% during the 2nd quarter. Acadian Asset Management LLC now owns 175,245 shares of the construction company’s stock valued at $12,811,000 after purchasing an additional 43,258 shares during the period. 79.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AGX has been the subject of a number of recent analyst reports. Lake Street Capital lifted their price target on shares of Argan from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. StockNews.com lowered Argan from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th.

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.