Argan (NYSE:AGX) Trading Down 4.1% Following Insider Selling

Argan, Inc. (NYSE:AGX) traded down 4.1% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $123.40 and last traded at $124.02. 131,621 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 155,930 shares. The stock had previously closed at $129.30.

Specifically, Director Rainer H. Bosselmann sold 10,105 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 219,879 shares of the company’s stock, valued at approximately $28,606,257.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rainer H. Bosselmann sold 4,598 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $131.01, for a total transaction of $602,383.98. Following the sale, the director now directly owns 236,745 shares of the company’s stock, valued at approximately $31,015,962.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Argan Stock Down 3.3 %

The company has a market cap of $1.69 billion, a price-to-earnings ratio of 39.31 and a beta of 0.53. The company’s fifty day moving average price is $94.15 and its two-hundred day moving average price is $78.09.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate 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% on a year-over-year basis.

Argan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be issued 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 of this dividend is Wednesday, October 23rd. This represents a $1.50 annualized dividend and a dividend yield of 1.20%. Argan’s dividend payout ratio (DPR) is presently 37.74%.

Institutional Trading of Argan

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Argan in the second quarter valued at approximately $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Argan in the third quarter valued at approximately $43,000. Copeland Capital Management LLC acquired a new stake in shares of Argan in the third quarter valued at approximately $56,000. Point72 DIFC Ltd acquired a new stake in shares of Argan in the second quarter valued at approximately $70,000. Finally, nVerses Capital LLC acquired a new stake in shares of Argan in the third quarter valued at approximately $91,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

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.