Argan, Inc. (NYSE:AGX) Director Sells $166,833.00 in Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director Mano S. Koilpillai sold 2,700 shares of the firm's stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $61.79, for a total value of $166,833.00. Following the completion of the sale, the director now directly owns 7,608 shares of the company's stock, valued at approximately $470,098.32. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Argan Stock Up 0.2 %

Shares of Argan stock traded up $0.10 during trading on Thursday, reaching $61.31. The company's stock had a trading volume of 82,741 shares, compared to its average volume of 73,827. The company has a market cap of $811.74 million, a price-to-earnings ratio of 25.65 and a beta of 0.49. The company has a 50-day simple moving average of $51.24 and a two-hundred day simple moving average of $47.56. Argan, Inc. has a 1-year low of $37.37 and a 1-year high of $62.69.

Argan (NYSE:AGX - Get Free Report) last issued its earnings results on Thursday, April 11th. The construction company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.14. The company had revenue of $164.55 million during the quarter, compared to analyst estimates of $162.05 million. Argan had a return on equity of 11.37% and a net margin of 5.64%. The firm's quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.46) EPS.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 22nd will be paid a $0.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.96%. Argan's dividend payout ratio (DPR) is 50.21%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AGX. Lake Street Capital raised their price objective on Argan from $61.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, April 12th. StockNews.com raised Argan from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 15th.

Hedge Funds Weigh In On Argan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGX. SG Americas Securities LLC purchased a new position in Argan in the 3rd quarter worth $265,000. Pinnacle Associates Ltd. raised its stake in shares of Argan by 3.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 21,712 shares of the construction company's stock valued at $988,000 after buying an additional 775 shares during the last quarter. Azarias Capital Management L.P. raised its stake in shares of Argan by 37.6% during the 3rd quarter. Azarias Capital Management L.P. now owns 173,143 shares of the construction company's stock valued at $7,881,000 after buying an additional 47,332 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Argan by 68.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,720 shares of the construction company's stock valued at $169,000 after buying an additional 1,511 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Argan by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company's stock valued at $18,011,000 after buying an additional 32,958 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

About Argan

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.