Insider Selling: Argan, Inc. (NYSE:AGX) Director Sells 3,456 Shares of Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director Peter W. Getsinger sold 3,456 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $212.01, for a total transaction of $732,706.56. Following the completion of the transaction, the director 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 SEC, which is available through this hyperlink.

Argan Stock Performance

Shares of AGX traded down $16.75 during trading hours on Tuesday, reaching $203.73. 541,879 shares of the company traded hands, compared to its average volume of 349,427. The stock's fifty day moving average is $194.61 and its 200 day moving average is $158.98. Argan, Inc. has a 1-year low of $63.53 and a 1-year high of $246.60. The stock has a market cap of $2.78 billion, a P/E ratio of 28.57 and a beta of 0.55.

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, beating the consensus estimate of $1.09 by $0.51. Argan had a return on equity of 29.61% and a net margin of 11.00%. The firm had revenue of $193.66 million during the quarter, compared to analysts' expectations of $193.75 million. During the same quarter in the prior year, the firm posted $0.58 EPS. The company's revenue for the quarter was up 22.8% on a year-over-year basis.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 23rd will be given a $0.375 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $1.50 annualized dividend and a yield of 0.74%. Argan's dividend payout ratio (DPR) is currently 21.04%.

Institutional Investors Weigh In On Argan

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Argan by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 926,168 shares of the construction company's stock worth $121,485,000 after acquiring an additional 82,585 shares during the period. Renaissance Technologies LLC raised its position in Argan by 21.0% in the fourth quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company's stock worth $92,170,000 after purchasing an additional 116,783 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Argan by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 529,052 shares of the construction company's stock worth $72,502,000 after purchasing an additional 29,062 shares during the period. American Century Companies Inc. lifted its stake in Argan by 7.6% during the first 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 boosted its holdings in Argan by 37.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company's stock valued at $40,475,000 after purchasing an additional 80,844 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company's stock.

Analyst Upgrades and Downgrades

AGX has been the topic of a number of research analyst reports. Kepler Capital Markets lowered Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Lake Street Capital increased their price objective on Argan from $150.00 to $236.00 and gave the company a "buy" rating in a research report on Thursday, June 5th.

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.