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

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 value of $300,000.00. Following the sale, the chief financial officer now directly owns 9,367 shares in the company, valued at approximately $1,405,050. This trade represents a 17.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Argan Trading Up 2.4 %

Shares of AGX stock opened at $159.35 on Friday. Argan, Inc. has a 1-year low of $43.44 and a 1-year high of $165.33. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 33.34 and a beta of 0.56. The stock has a 50-day moving average of $148.20 and a 200-day moving average of $109.79.

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

Argan Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Prime Capital Investment Advisors LLC boosted its position in shares of Argan by 1.8% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,796 shares of the construction company’s stock valued at $486,000 after purchasing an additional 86 shares in the last quarter. FMR LLC boosted its holdings in shares of Argan by 68.2% during the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company’s stock worth $105,000 after buying an additional 419 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Argan during the 3rd quarter worth approximately $43,000. Savant Capital LLC increased its stake in shares of Argan by 4.4% in the 2nd quarter. Savant Capital LLC now owns 10,285 shares of the construction company’s stock valued at $752,000 after acquiring an additional 431 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Argan by 5.2% during the 3rd quarter. Creative Planning now owns 10,616 shares of the construction company’s stock valued at $1,077,000 after acquiring an additional 521 shares during the period. 79.43% of the stock is owned by institutional investors.

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.