Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann Sells 4,500 Shares

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 4,500 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $77.11, for a total value of $346,995.00. Following the completion of the transaction, the director now owns 247,719 shares of the company’s stock, valued at approximately $19,101,612.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Argan Price Performance

Shares of NYSE AGX opened at $78.29 on Tuesday. Argan, Inc. has a one year low of $37.37 and a one year high of $78.95. The business’s fifty day moving average price is $65.88 and its 200-day moving average price is $53.59. The stock has a market capitalization of $1.05 billion, a PE ratio of 27.86 and a beta of 0.45.

Argan (NYSE:AGX) last issued its quarterly earnings results 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 firm had revenue of $157.70 million for the quarter, compared to analysts’ expectations of $134.75 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was up 52.1% compared to the same quarter last year.

Argan Dividend Announcement

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

Institutional Trading of Argan

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Argan by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 726,171 shares of the construction company’s stock worth $36,701,000 after purchasing an additional 12,162 shares in the last quarter. Azarias Capital Management L.P. lifted its holdings in Argan by 4.3% during the 4th quarter. Azarias Capital Management L.P. now owns 180,525 shares of the construction company’s stock worth $8,447,000 after purchasing an additional 7,382 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Argan by 2.2% during the 1st quarter. Acadian Asset Management LLC now owns 131,987 shares of the construction company’s stock worth $6,668,000 after purchasing an additional 2,778 shares in the last quarter. Legato Capital Management LLC lifted its holdings in Argan by 13.0% during the 4th quarter. Legato Capital Management LLC now owns 116,613 shares of the construction company’s stock worth $5,456,000 after purchasing an additional 13,431 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Argan by 1.0% in the 1st quarter. Raymond James & Associates now owns 90,801 shares of the construction company’s stock valued at $4,589,000 after acquiring an additional 935 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Analyst Ratings Changes

AGX has been the subject of a number of recent analyst reports. StockNews.com downgraded Argan from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. Lake Street Capital upped their price target on Argan from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, June 7th.

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.