Peter W. Getsinger Sells 5,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director Peter W. Getsinger sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total value of $725,150.00. Following the completion of the sale, the director now owns 11,496 shares of the company's stock, valued at $1,667,264.88. This represents a 30.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Argan Price Performance

Shares of NYSE:AGX traded up $4.19 during trading on Tuesday, reaching $133.73. The stock had a trading volume of 280,664 shares, compared to its average volume of 297,760. The stock has a market capitalization of $1.82 billion, a PE ratio of 27.98 and a beta of 0.45. Argan, Inc. has a 52 week low of $60.03 and a 52 week high of $191.46. The business's 50-day moving average price is $130.17 and its 200 day moving average price is $139.87.

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

Argan Announces Dividend

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Argan

A number of large investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in Argan by 68.2% during the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company's stock worth $105,000 after buying an additional 419 shares in the last quarter. State Street Corp increased its position in Argan by 4.8% in the third quarter. State Street Corp now owns 353,984 shares of the construction company's stock worth $35,905,000 after purchasing an additional 16,055 shares during the period. Barclays PLC raised its holdings in Argan by 46.6% during the 3rd quarter. Barclays PLC now owns 66,341 shares of the construction company's stock worth $6,728,000 after purchasing an additional 21,094 shares during the last quarter. Geode Capital Management LLC lifted its position in Argan by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company's stock valued at $29,141,000 after purchasing an additional 1,553 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Argan by 51.0% during the 3rd quarter. Franklin Resources Inc. now owns 22,406 shares of the construction company's stock worth $2,273,000 after buying an additional 7,564 shares during the period. 79.43% of the stock is currently owned by institutional investors and hedge funds.

About Argan

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.