Argan, Inc. (NYSE:AGX) Director Sells $3,307,050.00 in Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director Cynthia Flanders sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $220.47, for a total value of $3,307,050.00. Following the completion of the transaction, the director now directly owns 33,428 shares in the company, valued at $7,369,871.16. The trade was a 30.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Argan Stock Up 2.5%

Argan stock traded up $5.00 during mid-day trading on Monday, reaching $208.36. The company had a trading volume of 322,922 shares, compared to its average volume of 345,496. The company has a 50 day moving average of $184.75 and a 200-day moving average of $155.75. Argan, Inc. has a 52 week low of $63.53 and a 52 week high of $246.60. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 29.22 and a beta of 0.55.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 EPS 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 during the quarter, compared to analysts' expectations of $193.75 million. During the same quarter in the prior year, the firm posted $0.58 EPS. The company's revenue for the quarter was up 22.8% on a year-over-year basis.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 23rd will be given a $0.375 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $1.50 annualized dividend and a yield of 0.72%. Argan's dividend payout ratio (DPR) is currently 21.04%.

Analysts Set New Price Targets

AGX has been the subject of several recent analyst reports. Lake Street Capital upped their price objective on shares of Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Kepler Capital Markets cut shares of Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th.

Institutional Investors Weigh In On Argan

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new position in shares of Argan in the 4th quarter worth approximately $32,000. Larson Financial Group LLC grew its position in Argan by 2,987.5% in the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company's stock valued at $32,000 after acquiring an additional 239 shares during the period. Global Retirement Partners LLC bought a new stake in Argan in the fourth quarter valued at $35,000. McIlrath & Eck LLC raised its stake 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 acquiring an additional 302 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Argan during the fourth quarter valued at $57,000. Institutional investors and hedge funds own 79.43% of the company's stock.

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.