Rainer H. Bosselmann Sells 4,598 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 4,598 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $131.01, for a total value of $602,383.98. Following the transaction, the director now owns 236,745 shares in the company, valued at $31,015,962.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Argan Stock Down 3.3 %

Shares of NYSE:AGX opened at $125.01 on Wednesday. Argan, Inc. has a twelve month low of $39.74 and a twelve month high of $135.85. The stock’s 50 day moving average is $94.15 and its 200-day moving average is $78.09. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 39.31 and a beta of 0.53.

Argan (NYSE:AGX) last issued its 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. Argan had a return on equity of 14.80% and a net margin of 6.11%. The company had revenue of $227.02 million for the quarter, compared to analyst estimates of $191.05 million. The firm’s revenue was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The company 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 represents a $1.50 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Argan’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, October 23rd. Argan’s dividend payout ratio is presently 37.74%.

Institutional Investors Weigh In On Argan

A number of institutional investors and hedge funds have recently bought and sold shares of AGX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Argan in the 2nd quarter valued at $41,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Argan in the 3rd quarter valued at $43,000. Copeland Capital Management LLC purchased a new stake in Argan in the 3rd quarter valued at $56,000. Point72 DIFC Ltd purchased a new stake in Argan in the 2nd quarter valued at $70,000. Finally, nVerses Capital LLC purchased a new stake in Argan in the 3rd quarter valued at $91,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

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.