Argan, Inc. (NYSE:AGX) Director Cynthia Flanders Sells 2,000 Shares

Key Points

• Cynthia Flanders, a director at Argan, Inc. (NYSE: AGX), sold 2,000 shares at an average price of $234.56, reducing her position by 5.98% to a total of 31,428 shares valued at approximately $7.37 million.
• Argan reported earnings of $1.60 per share for the last quarter, surpassing analyst expectations by $0.51, while also showing a revenue increase of 22.8% compared to the previous year.
• The company will distribute a quarterly dividend of $0.375 per share, translating to an annualized dividend of $1.50 and a yield of 0.62%, with the payment scheduled for July 31st.

Argan, Inc. (NYSE:AGX - Get Free Report) Director Cynthia Flanders sold 2,000 shares of Argan stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $234.56, for a total transaction of $469,120.00. Following the completion of the transaction, the director owned 31,428 shares of the company's stock, valued at $7,371,751.68. This represents a 5.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Cynthia Flanders also recently made the following trade(s):

• On Thursday, June 12th, Cynthia Flanders sold 15,000 shares of Argan stock. The shares were sold at an average price of $220.47, for a total transaction of $3,307,050.00.

Argan Stock Performance

AGX stock traded down $19.66 during trading on Friday, hitting $225.32. The stock had a trading volume of 869,114 shares, compared to its average volume of 431,538. The company's 50 day moving average price is $216.04 and its two-hundred day moving average price is $170.12. Argan, Inc. has a 1-year low of $63.53 and a 1-year high of $253.79. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 31.60 and a beta of 0.59.

Argan (NYSE:AGX - Get Free Report) last announced its 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 net margin of 11.00% and a return on equity of 29.61%. The firm had revenue of $193.66 million during the quarter, compared to the consensus estimate of $193.75 million. During the same quarter in the previous year, the company posted $0.58 EPS. The firm's revenue for the quarter was up 22.8% on a year-over-year basis.

Argan Dividend Announcement

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

Institutional Trading of Argan

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Argan by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 926,168 shares of the construction company's stock worth $121,485,000 after acquiring an additional 82,585 shares during the period. Renaissance Technologies LLC boosted its holdings in Argan by 21.0% in the 4th quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company's stock worth $92,170,000 after acquiring an additional 116,783 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Argan by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 529,052 shares of the construction company's stock valued at $72,502,000 after buying an additional 29,062 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Argan by 7.6% during the 1st quarter. American Century Companies Inc. now owns 517,302 shares of the construction company's stock valued at $67,855,000 after buying an additional 36,644 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Argan by 37.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company's stock valued at $40,475,000 after buying an additional 80,844 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company's stock.

Wall Street Analyst Weigh In

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

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.