Argan, Inc. (NYSE:AGX) Director James W. Quinn Sells 40,000 Shares

Argan, Inc. (NYSE:AGX - Get Free Report) Director James W. Quinn sold 40,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $207.92, for a total value of $8,316,800.00. Following the sale, the director now directly owns 16,557 shares of the company's stock, valued at $3,442,531.44. This represents a 70.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Argan Trading Down 1.9%

Shares of AGX stock traded down $4.17 during trading on Friday, hitting $217.95. The company's stock had a trading volume of 381,612 shares, compared to its average volume of 340,499. The company has a market cap of $2.97 billion, a PE ratio of 45.60 and a beta of 0.55. The business has a fifty day moving average of $177.76 and a 200-day moving average of $153.77. 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 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. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business had revenue of $193.66 million for the quarter, compared to the consensus estimate of $193.75 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. Argan's revenue for the quarter was up 22.8% on a year-over-year basis.

Argan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. Argan's payout ratio is 21.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AGX. Vanguard Group Inc. grew its stake in shares of Argan by 9.8% in the first quarter. Vanguard Group Inc. now owns 926,168 shares of the construction company's stock worth $121,485,000 after purchasing an additional 82,585 shares during the last quarter. Renaissance Technologies LLC raised 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Argan by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 529,052 shares of the construction company's stock worth $72,502,000 after acquiring an additional 29,062 shares during the last quarter. American Century Companies Inc. grew its position in Argan by 7.6% in the 1st quarter. American Century Companies Inc. now owns 517,302 shares of the construction company's stock worth $67,855,000 after purchasing an additional 36,644 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Argan by 37.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company's stock worth $40,475,000 after purchasing an additional 80,844 shares during the period. 79.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AGX. Lake Street Capital boosted their price target on Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Kepler Capital Markets cut Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th.

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.