Argan, Inc. (NYSE:AGX) CEO Sells $362,250.00 in Stock

Key Points

• Argan, Inc. CEO Charles Edwin Iv Collins sold 1,500 shares of stock for $362,250, reducing his ownership by 7.14% to 19,506 shares, valued at approximately $4.7 million.
• Argan stock has declined by 8.0% recently and is currently trading at $225.32, with a market capitalization of $3.07 billion.
• The company reported $1.60 EPS in its latest quarterly earnings, exceeding analysts' expectations, and has declared a quarterly dividend of $0.375 per share, with a yield of 0.7%.

Argan, Inc. (NYSE:AGX - Get Free Report) CEO Charles Edwin Iv Collins sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $241.50, for a total transaction of $362,250.00. Following the sale, the chief executive officer owned 19,506 shares in the company, valued at $4,710,699. The trade was a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Thursday, July 31st, Charles Edwin Iv Collins sold 5,000 shares of Argan stock. The shares were sold at an average price of $245.00, for a total value of $1,225,000.00.

Argan Stock Performance

NYSE:AGX traded up $4.57 during trading hours on Tuesday, hitting $227.98. The company's stock had a trading volume of 147,454 shares, compared to its average volume of 443,827. The business's 50-day moving average is $216.04 and its two-hundred day moving average is $170.05. The company has a market capitalization of $3.11 billion, a PE ratio of 31.99 and a beta of 0.59. Argan, Inc. has a 52-week low of $68.53 and a 52-week high of $253.79.

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

Argan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 23rd were given a $0.375 dividend. The ex-dividend date 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 (DPR) is currently 21.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AGX shares. JPMorgan Chase & Co. started coverage on Argan in a report on Monday, July 21st. They issued a "neutral" rating and a $220.00 price objective for the company. Kepler Capital Markets downgraded Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Finally, Lake Street Capital increased their price target on Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $202.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AGX. Balyasny Asset Management L.P. purchased a new position in shares of Argan in the fourth quarter valued at $23,064,000. Goodlander Investment Management LLC purchased a new stake in Argan during the 1st quarter worth about $18,364,000. Renaissance Technologies LLC increased its position in Argan by 21.0% during the 4th quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company's stock worth $92,170,000 after purchasing an additional 116,783 shares in the last quarter. Thames Capital Management LLC increased its position in Argan by 286.8% during the 4th quarter. Thames Capital Management LLC now owns 117,384 shares of the construction company's stock worth $16,086,000 after purchasing an additional 87,038 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Argan during the 1st quarter worth about $11,307,000. Hedge funds and other institutional investors 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.