Argan, Inc. (NYSE:AGX) Director Sells $617,586.23 in Stock

Key Points

• Argan, Inc. Director John Ronald Jr. Jeffrey sold 2,621 shares for a total of $617,586.23, reducing his holdings by 22.07% to 9,254 shares.
• The company reported strong quarterly earnings with an EPS of $1.60, exceeding estimates and showing a 22.8% year-over-year revenue increase.
• Argan declared a quarterly dividend of $0.375, with a payout ratio of 21.04%, while its stock price has fluctuated between $63.53 and $253.79 over the past year.

Argan, Inc. (NYSE:AGX - Get Free Report) Director John Ronald Jr. Jeffrey sold 2,621 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $235.63, for a total value of $617,586.23. Following the transaction, the director owned 9,254 shares of the company's stock, valued at $2,180,520.02. The trade was a 22.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Argan Price Performance

Shares of NYSE:AGX traded up $0.35 on Monday, hitting $225.62. The company's stock had a trading volume of 101,371 shares, compared to its average volume of 442,951. The company has a 50-day simple moving average of $216.04 and a 200 day simple moving average of $170.05. Argan, Inc. has a 1 year low of $63.53 and a 1 year high of $253.79. The company has a market capitalization of $3.08 billion, a PE ratio of 31.86 and a beta of 0.59.

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

Argan Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Argan

Institutional investors have recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Argan by 2,987.5% during the 1st quarter. Larson Financial Group LLC now owns 247 shares of the construction company's stock valued at $32,000 after purchasing an additional 239 shares during the last quarter. IFP Advisors Inc bought a new position in shares of Argan during the 2nd quarter valued at about $71,000. McIlrath & Eck LLC increased its position in shares of Argan by 419.4% during the 4th quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock valued at $51,000 after purchasing an additional 302 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Argan by 1,123.5% during the 4th quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock valued at $57,000 after purchasing an additional 382 shares during the last quarter. Finally, Kings Path Partners LLC bought a new position in shares of Argan during the 2nd quarter valued at about $170,000. 79.43% of the stock is currently owned by institutional investors.

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.