Peter W. Getsinger Sells 2,292 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director Peter W. Getsinger sold 2,292 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $150.35, for a total transaction of $344,602.20. Following the sale, the director now directly owns 9,500 shares of the company's stock, valued at $1,428,325. This represents a 19.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Argan Trading Up 3.2 %

Shares of NYSE AGX traded up $4.19 during midday trading on Tuesday, reaching $133.73. The company's stock had a trading volume of 280,664 shares, compared to its average volume of 297,760. Argan, Inc. has a fifty-two week low of $60.03 and a fifty-two week high of $191.46. The stock has a 50 day simple moving average of $130.17 and a 200-day simple moving average of $139.87. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 27.98 and a beta of 0.45.

Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.15 by $1.07. The firm had revenue of $232.47 million for the quarter, compared to analysts' expectations of $197.50 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. Argan's revenue for the quarter was up 41.3% compared to the same quarter last year.

Argan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's payout ratio is presently 24.55%.

Hedge Funds Weigh In On Argan

Hedge funds and other institutional investors have recently made changes to their positions in the company. Spire Wealth Management bought a new position in shares of Argan in the 4th quarter valued at about $26,000. Farther Finance Advisors LLC acquired a new stake in Argan in the 4th quarter valued at about $32,000. Global Retirement Partners LLC bought a new position in Argan during the fourth quarter worth about $35,000. McIlrath & Eck LLC increased its position in Argan by 419.4% during the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock worth $51,000 after buying an additional 302 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Argan in the fourth quarter valued at approximately $57,000. 79.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upgraded Argan from a "hold" rating to a "buy" rating and set a $150.00 target price for the company in a report on Friday, March 28th.

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.