Argan, Inc. (NYSE:AGX) CEO Sells $1,225,000.00 in Stock

Key Points

• CEO Charles Edwin Iv Collins sold 5,000 shares of Argan, Inc. stock for a total of $1,225,000, reducing his ownership by 25.63% to 14,506 shares worth approximately $3.55 million.
• Argan reported a quarterly earnings per share of $1.60, beating expectations by $0.51, with a 22.8% increase in revenue compared to the same quarter last year.
• On the market, Argan's stock is currently trading at $225.32, down from a 52-week high of $253.79, with an average analyst rating of "Hold" and a price target of $202.00.

Argan, Inc. (NYSE:AGX - Get Free Report) CEO Charles Edwin Iv Collins sold 5,000 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $245.00, for a total value of $1,225,000.00. Following the completion of the transaction, the chief executive officer directly owned 14,506 shares in the company, valued at $3,553,970. This trade represents a 25.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Charles Edwin Iv Collins also recently made the following trade(s):

• On Tuesday, July 29th, Charles Edwin Iv Collins sold 1,500 shares of Argan stock. The stock was sold at an average price of $241.50, for a total value of $362,250.00.

Argan Price Performance

NYSE AGX traded down $19.66 during trading hours on Friday, reaching $225.32. The company's stock had a trading volume of 869,114 shares, compared to its average volume of 431,538. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 31.60 and a beta of 0.59. Argan, Inc. has a 1-year low of $63.53 and a 1-year high of $253.79. The company's 50-day moving average is $216.04 and its two-hundred day moving average is $170.09.

Argan (NYSE:AGX - Get Free Report) last announced its earnings results on Wednesday, June 4th. The construction company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.51. Argan had a return on equity of 29.61% and a net margin of 11.00%. The business had revenue of $193.66 million during the quarter, compared to analysts' expectations of $193.75 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The business's revenue was up 22.8% compared to the same quarter last year.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 23rd were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Argan's dividend payout ratio is presently 21.04%.

Analysts Set New Price Targets

A number of brokerages have weighed in on AGX. Lake Street Capital lifted their target price on Argan from $150.00 to $236.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. JPMorgan Chase & Co. began coverage on Argan in a research note on Monday, July 21st. They set a "neutral" rating and a $220.00 target price on the stock. Finally, Kepler Capital Markets downgraded Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $202.00.

Institutional Investors Weigh In On Argan

Hedge funds and other institutional investors have recently made changes to their positions in the stock. City Center Advisors LLC acquired a new stake in Argan during the first quarter worth $223,000. Wealth Enhancement Advisory Services LLC increased its stake in Argan by 26.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,977 shares of the construction company's stock worth $522,000 after acquiring an additional 839 shares during the last quarter. GAMMA Investing LLC increased its stake in Argan by 11,180.0% during the first quarter. GAMMA Investing LLC now owns 5,640 shares of the construction company's stock worth $7,400,000 after acquiring an additional 5,590 shares during the last quarter. SG Americas Securities LLC increased its stake in Argan by 362.2% during the first quarter. SG Americas Securities LLC now owns 4,969 shares of the construction company's stock worth $652,000 after acquiring an additional 3,894 shares during the last quarter. Finally, Thoroughbred Financial Services LLC increased its stake in Argan by 34.3% during the fourth quarter. Thoroughbred Financial Services LLC now owns 8,411 shares of the construction company's stock worth $1,152,000 after acquiring an additional 2,150 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company's stock.

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.