Argan (NYSE:AGX) CEO Charles Edwin Iv Collins Sells 5,000 Shares

Key Points

• Argan CEO Charles Edwin Iv Collins sold 5,000 shares at an average price of $267.00, totaling $1,335,000.00, which reduced his ownership by 19.23%.
• The company announced a quarterly dividend of $0.50 per share, increasing from the previous $0.38, with an annualized yield of 0.8%.
• Argan's recent earnings report showed an EPS of $2.50, outperforming estimates by $0.51, and a year-over-year revenue increase of 4.7%.

Argan, Inc. (NYSE:AGX - Get Free Report) CEO Charles Edwin Iv Collins sold 5,000 shares of the company's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $267.00, for a total value of $1,335,000.00. Following the completion of the sale, the chief executive officer owned 21,006 shares of the company's stock, valued at approximately $5,608,602. The trade was a 19.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, September 18th, Charles Edwin Iv Collins sold 7,500 shares of Argan stock. The stock was sold at an average price of $257.39, for a total value of $1,930,425.00.
• On Thursday, July 31st, Charles Edwin Iv Collins sold 5,000 shares of Argan stock. The stock was sold at an average price of $245.00, for a total value of $1,225,000.00.
• On Tuesday, July 29th, Charles Edwin Iv Collins sold 1,500 shares of Argan stock. The shares were sold at an average price of $241.50, for a total transaction of $362,250.00.

Argan Stock Performance

Shares of NYSE:AGX traded up $8.06 during mid-day trading on Friday, reaching $266.23. 279,396 shares of the company's stock were exchanged, compared to its average volume of 429,422. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 32.00 and a beta of 0.62. Argan, Inc. has a twelve month low of $98.51 and a twelve month high of $270.11. The business's fifty day moving average price is $231.39 and its 200-day moving average price is $193.91.

Argan (NYSE:AGX - Get Free Report) last posted its earnings results on Thursday, September 4th. The construction company reported $2.50 EPS for the quarter, topping the consensus estimate of $1.99 by $0.51. Argan had a net margin of 12.73% and a return on equity of 32.61%. The firm had revenue of $237.74 million during the quarter, compared to analysts' expectations of $243.97 million. During the same period last year, the company posted $1.31 EPS. The company's quarterly revenue was up 4.7% compared to the same quarter last year.

Argan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 23rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.8%. This is a boost from Argan's previous quarterly dividend of $0.38. Argan's dividend payout ratio (DPR) is 18.03%.

Hedge Funds Weigh In On Argan

Several hedge funds have recently added to or reduced their stakes in AGX. City Center Advisors LLC bought a new position in Argan during the 1st quarter valued at approximately $223,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Argan by 26.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,977 shares of the construction company's stock worth $522,000 after purchasing an additional 839 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Argan by 11,180.0% during the 1st quarter. GAMMA Investing LLC now owns 5,640 shares of the construction company's stock worth $7,400,000 after purchasing an additional 5,590 shares during the period. Sierra Summit Advisors LLC acquired a new stake in Argan during the 1st quarter worth $667,000. Finally, SG Americas Securities LLC grew its position in shares of Argan by 362.2% in the first quarter. SG Americas Securities LLC now owns 4,969 shares of the construction company's stock valued at $652,000 after purchasing an additional 3,894 shares during the last quarter. Institutional investors own 79.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AGX. Lake Street Capital upped their price target on Argan from $236.00 to $260.00 and gave the company a "buy" rating in a report on Friday, September 5th. JPMorgan Chase & Co. began coverage on shares of Argan in a report on Monday, July 21st. They issued a "neutral" rating and a $220.00 target price on the stock. Wall Street Zen upgraded Argan from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Glj Research started coverage on Argan in a research report on Monday. They issued a "hold" rating and a $251.00 price target for the company. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $220.25.

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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