Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger Sells 3,456 Shares

Argan, Inc. (NYSE:AGX - Get Free Report) Director Peter W. Getsinger sold 3,456 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $212.01, for a total value of $732,706.56. Following the completion of the sale, the director directly owned 14,895 shares in the company, valued at $3,157,888.95. The trade was a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Argan Trading Up 1.7%

Shares of AGX stock traded up $3.50 during midday trading on Friday, reaching $209.65. 192,314 shares of the stock were exchanged, compared to its average volume of 351,521. Argan, Inc. has a 1 year low of $63.53 and a 1 year high of $246.60. The firm has a market cap of $2.86 billion, a PE ratio of 29.40 and a beta of 0.54. The company's 50 day moving average is $197.12 and its two-hundred day moving average is $159.73.

Argan (NYSE:AGX - Get Free Report) last released its quarterly 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. 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%. The firm's revenue was up 22.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share.

Argan Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Lake Street Capital raised their price target on Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Kepler Capital Markets cut shares of Argan from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 28th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AGX. City Center Advisors LLC purchased a new stake in Argan in the first quarter worth about $223,000. American Century Companies Inc. raised its holdings in Argan by 18.1% in the 4th quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after acquiring an additional 73,654 shares during the last quarter. GAMMA Investing LLC lifted its position in Argan by 11,180.0% in the 1st quarter. GAMMA Investing LLC now owns 5,640 shares of the construction company's stock valued at $7,400,000 after acquiring an additional 5,590 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Argan by 28.5% during the 4th quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock valued at $2,400,000 after purchasing an additional 3,880 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Argan by 95.7% in the 4th quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after purchasing an additional 3,199 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors.

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.