Argan, Inc. (NYSE:AGX) Director Sells $469,120.00 in Stock

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 the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $234.56, for a total value of $469,120.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

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

Argan Trading Down 8.0%

AGX traded down $19.66 during trading on Friday, hitting $225.32. The company's stock had a trading volume of 869,114 shares, compared to its average volume of 431,538. Argan, Inc. has a twelve month low of $63.53 and a twelve month high of $253.79. The business's fifty day simple moving average is $216.04 and its 200 day simple moving average is $170.09. The firm has a market capitalization 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 issued its quarterly earnings data on Wednesday, June 4th. The construction company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.09 by $0.51. The company had revenue of $193.66 million for the quarter, compared to analyst estimates of $193.75 million. Argan had a return on equity of 29.61% and a net margin of 11.00%. Argan's quarterly revenue was up 22.8% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share.

Argan Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Wednesday, July 23rd. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Argan's dividend payout ratio (DPR) is presently 21.04%.

Hedge Funds Weigh In On Argan

A number of institutional investors have recently added to or reduced their stakes in the stock. Cardinal Capital Management lifted its position in Argan by 0.4% during the first quarter. Cardinal Capital Management now owns 31,086 shares of the construction company's stock worth $4,078,000 after buying an additional 111 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Argan by 12.7% in the first quarter. Nisa Investment Advisors LLC now owns 1,059 shares of the construction company's stock valued at $139,000 after buying an additional 119 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Argan by 3.7% in the fourth quarter. Cerity Partners LLC now owns 4,042 shares of the construction company's stock valued at $545,000 after buying an additional 144 shares in the last quarter. Meritage Portfolio Management grew its stake in Argan by 3.0% during the 2nd quarter. Meritage Portfolio Management now owns 5,277 shares of the construction company's stock worth $1,163,000 after purchasing an additional 154 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its stake in Argan by 0.8% during the 1st quarter. Great Lakes Advisors LLC now owns 18,599 shares of the construction company's stock worth $2,440,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

Wall Street Analysts Forecast Growth

AGX has been the topic of several recent analyst reports. Kepler Capital Markets lowered Argan from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 28th. Lake Street Capital raised their target price on Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Finally, JPMorgan Chase & Co. assumed coverage on Argan in a report on Monday, July 21st. They set a "neutral" rating and a $220.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Argan has an average rating of "Hold" and a consensus target price of $202.00.

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.