Richard H. Deily Sells 2,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 9,367 shares in the company, valued at $1,405,050. This represents a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Argan Trading Up 2.4 %

NYSE AGX opened at $159.35 on Friday. Argan, Inc. has a 12-month low of $43.44 and a 12-month high of $165.33. The company has a fifty day simple moving average of $148.20 and a two-hundred day simple moving average of $110.02. The stock has a market cap of $2.16 billion, a P/E ratio of 33.34 and a beta of 0.56.

Argan (NYSE:AGX) last issued 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 company had revenue of $257.00 million during 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 business’s revenue for the quarter was up 56.9% compared to the same quarter last year.

Argan Announces Dividend

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

Analyst Ratings Changes

AGX has been the subject of several recent analyst reports. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and raised their target price for the company from $85.00 to $150.00 in a research note on Tuesday, December 3rd. StockNews.com cut Argan from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, CJS Securities reaffirmed a “market perform” rating and set a $150.00 target price on shares of Argan in a research report on Friday, December 6th.

Institutional Trading of Argan

Several institutional investors and hedge funds have recently bought and sold shares of AGX. Entropy Technologies LP increased its stake in shares of Argan by 108.6% in the third quarter. Entropy Technologies LP now owns 7,104 shares of the construction company’s stock worth $721,000 after acquiring an additional 3,699 shares during the period. Truist Financial Corp grew its position in Argan by 76.2% during the 2nd quarter. Truist Financial Corp now owns 12,552 shares of the construction company’s stock worth $918,000 after purchasing an additional 5,430 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Argan during the 3rd quarter valued at about $1,373,000. State Street Corp lifted its holdings in shares of Argan by 4.8% in the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company’s stock valued at $35,905,000 after buying an additional 16,055 shares during the period. Finally, Penn Mutual Asset Management boosted its stake in shares of Argan by 195.6% in the third quarter. Penn Mutual Asset Management now owns 10,050 shares of the construction company’s stock worth $1,019,000 after buying an additional 6,650 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

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.