Argan, Inc. (NYSE:AGX) CFO Sells $300,000.00 in Stock

Argan, Inc. (NYSE:AGX) CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,367 shares in the company, valued at approximately $1,405,050. This represents a 17.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Argan Price Performance

Argan stock opened at $159.35 on Monday. Argan, Inc. has a 12-month low of $43.44 and a 12-month high of $165.33. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 33.34 and a beta of 0.56. The firm’s fifty day moving average price is $148.20 and its 200 day moving average price is $110.27.

Argan (NYSE:AGX) last announced its earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.74. The business had revenue of $257.00 million for the quarter, compared to analyst estimates of $225.60 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm’s revenue was up 56.9% on a year-over-year basis.

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, January 23rd. Argan’s dividend payout ratio (DPR) is currently 31.38%.

Institutional Trading of Argan

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

Analysts Set New Price Targets

Several analysts recently issued reports on AGX shares. Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and increased their price target for the company from $85.00 to $150.00 in a report on Tuesday, December 3rd. StockNews.com lowered Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, CJS Securities reissued a “market perform” rating and set a $150.00 price target on shares of Argan in a research report on Friday, December 6th.

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.