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 business's 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 completion of the transaction, the director directly owned 9,254 shares in the company, valued at approximately $2,180,520.02. This represents a 22.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Argan Stock Up 1.8%

NYSE AGX traded up $4.37 on Thursday, reaching $244.87. The company had a trading volume of 599,011 shares, compared to its average volume of 442,547. The stock's 50 day moving average is $214.65 and its 200-day moving average is $169.11. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 34.34 and a beta of 0.54. Argan, Inc. has a 52 week low of $63.53 and a 52 week high of $253.79.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings results 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. Argan had a return on equity of 29.61% and a net margin of 11.00%. The company had revenue of $193.66 million during the quarter, compared to the consensus estimate of $193.75 million. During the same period in the prior year, the company earned $0.58 earnings per share. The company's revenue for the quarter was up 22.8% compared to the same quarter last year.

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 23rd will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, July 23rd. Argan's dividend payout ratio is 21.04%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AGX. JPMorgan Chase & Co. began coverage on Argan in a research note on Monday, July 21st. They set a "neutral" rating and a $220.00 price target on the stock. Kepler Capital Markets lowered Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Finally, Lake Street Capital upped their price objective on Argan from $150.00 to $236.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $202.00.

Institutional Investors Weigh In On Argan

Large investors have recently modified their holdings of the business. Larson Financial Group LLC increased its holdings in shares of Argan by 2,987.5% in the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company's stock worth $32,000 after acquiring an additional 239 shares in the last quarter. IFP Advisors Inc bought a new stake in shares of Argan in the second quarter worth about $71,000. McIlrath & Eck LLC grew its holdings in shares of 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 in the last quarter. Federated Hermes Inc. grew its holdings in shares of Argan by 1,123.5% during the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock worth $57,000 after buying an additional 382 shares in the last quarter. Finally, Kings Path Partners LLC bought a new position in shares of Argan during the second quarter worth 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.

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