Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann Sells 25,000 Shares of Stock

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $76.85, for a total value of $1,921,250.00. Following the completion of the transaction, the director now directly owns 272,719 shares in the company, valued at $20,958,455.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Argan Stock Performance

Shares of NYSE AGX opened at $78.29 on Tuesday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 27.86 and a beta of 0.45. The business’s 50-day simple moving average is $65.88 and its 200-day simple moving average is $53.59. Argan, Inc. has a 52 week low of $37.37 and a 52 week high of $78.95.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, June 6th. The construction company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Argan had a return on equity of 13.22% and a net margin of 6.08%. The business had revenue of $157.70 million for the quarter, compared to analyst estimates of $134.75 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 52.1% on a year-over-year basis.

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 22nd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $1.20 annualized dividend and a yield of 1.53%. Argan’s payout ratio is 42.70%.

Institutional Trading of Argan

Several hedge funds have recently added to or reduced their stakes in the business. Cardinal Capital Management boosted its stake in Argan by 1.0% during the 4th quarter. Cardinal Capital Management now owns 22,904 shares of the construction company’s stock valued at $1,072,000 after purchasing an additional 237 shares during the period. Exchange Traded Concepts LLC boosted its stake in Argan by 3.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,904 shares of the construction company’s stock valued at $417,000 after purchasing an additional 282 shares during the period. Watershed Asset Management L.L.C. lifted its position in shares of Argan by 7.5% in the 4th quarter. Watershed Asset Management L.L.C. now owns 6,321 shares of the construction company’s stock worth $296,000 after acquiring an additional 441 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Argan by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,656 shares of the construction company’s stock worth $286,000 after acquiring an additional 539 shares during the period. Finally, Keene & Associates Inc. lifted its position in shares of Argan by 3.5% in the 1st quarter. Keene & Associates Inc. now owns 18,973 shares of the construction company’s stock worth $959,000 after acquiring an additional 636 shares during the period. Institutional investors own 79.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AGX. StockNews.com lowered Argan from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th. Lake Street Capital increased their price objective on Argan from $70.00 to $85.00 and gave the company a “buy” rating in a report on Friday, June 7th.

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.