William F. Leimkuhler Sells 4,051 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director William F. Leimkuhler sold 4,051 shares of Argan stock in a transaction on Friday, June 27th. The shares were sold at an average price of $221.25, for a total transaction of $896,283.75. Following the completion of the transaction, the director directly owned 58,240 shares in the company, valued at $12,885,600. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Argan Trading Up 1.7%

NYSE:AGX traded up $3.50 on Thursday, hitting $209.65. The company had a trading volume of 192,314 shares, compared to its average volume of 351,521. The firm has a 50 day moving average of $195.90 and a two-hundred day moving average of $159.30. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 29.40 and a beta of 0.54. Argan, Inc. has a 52 week low of $63.53 and a 52 week high of $246.60.

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, topping analysts' consensus estimates of $1.09 by $0.51. Argan had a net margin of 11.00% and a return on equity of 29.61%. The business had revenue of $193.66 million during the quarter, compared to analysts' expectations of $193.75 million. During the same period last year, the company posted $0.58 earnings per share. The business's quarterly revenue was up 22.8% on a year-over-year basis.

Argan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 23rd will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, July 23rd. Argan's payout ratio is 21.04%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Argan

A number of hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its position in Argan by 1.7% in the 4th quarter. Rhumbline Advisers now owns 19,016 shares of the construction company's stock valued at $2,606,000 after acquiring an additional 309 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Argan by 15.0% during the 4th quarter. Principal Financial Group Inc. now owns 15,566 shares of the construction company's stock valued at $2,133,000 after buying an additional 2,027 shares during the period. Truist Financial Corp boosted its position in shares of Argan by 8.9% during the fourth quarter. Truist Financial Corp now owns 5,949 shares of the construction company's stock valued at $815,000 after buying an additional 487 shares during the period. Global Retirement Partners LLC bought a new stake in Argan during the 4th quarter valued at about $35,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Argan during the 4th quarter worth about $443,000. Hedge funds and other institutional investors own 79.43% of the company's stock.

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.