Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger Sells 800 Shares

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 800 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the sale, the director now owns 19,177 shares of the company’s stock, valued at $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Argan Price Performance

Shares of AGX stock traded up $11.57 during trading hours on Tuesday, reaching $167.62. The company had a trading volume of 759,636 shares, compared to its average volume of 422,937. Argan, Inc. has a 12 month low of $43.44 and a 12 month high of $176.85. The business has a fifty day simple moving average of $148.58 and a 200-day simple moving average of $110.85. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 35.07 and a beta of 0.56.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.74. The company had revenue of $257.00 million during the quarter, compared to the consensus estimate of $225.60 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. Argan’s revenue was up 56.9% compared to the same quarter last year.

Argan Dividend Announcement

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 given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, January 23rd. Argan’s payout ratio is 31.38%.

Institutional Trading of Argan

A number of large investors have recently bought and sold shares of AGX. Arizona State Retirement System purchased a new stake in Argan in the second quarter worth $258,000. Quest Partners LLC increased its position in Argan by 3,321.4% in the second quarter. Quest Partners LLC now owns 1,916 shares of the construction company’s stock worth $140,000 after buying an additional 1,860 shares during the last quarter. American Century Companies Inc. increased its position in Argan by 31.8% in the second quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock worth $22,336,000 after buying an additional 73,658 shares during the last quarter. Renaissance Technologies LLC increased its position in Argan by 7.7% in the second quarter. Renaissance Technologies LLC now owns 537,296 shares of the construction company’s stock worth $39,309,000 after buying an additional 38,300 shares during the last quarter. Finally, L & S Advisors Inc bought a new position in shares of Argan in the second quarter worth $1,273,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and raised their price target for the stock 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 report on Tuesday, October 29th. Finally, CJS Securities restated a “market perform” rating and issued a $150.00 target price on shares of Argan in a report on Friday, December 6th.

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.