Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann Sells 10,105 Shares

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 10,105 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $130.10, for a total transaction of $1,314,660.50. Following the completion of the transaction, the director now owns 219,879 shares of the company’s stock, valued at approximately $28,606,257.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Argan Stock Performance

AGX opened at $129.30 on Tuesday. The company has a fifty day moving average of $93.08 and a two-hundred day moving average of $77.56. Argan, Inc. has a fifty-two week low of $39.74 and a fifty-two week high of $135.85. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 46.01 and a beta of 0.53.

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

Argan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be given a dividend of $0.375 per share. This is a positive change from Argan’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, October 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.16%. Argan’s dividend payout ratio (DPR) is 53.38%.

Institutional Investors Weigh In On Argan

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

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.