William F. Leimkuhler Sells 7,604 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX - Get Free Report) Director William F. Leimkuhler sold 7,604 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $222.03, for a total value of $1,688,316.12. Following the completion of the sale, the director directly owned 50,636 shares of the company's stock, valued at approximately $11,242,711.08. This trade represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Argan Price Performance

NYSE:AGX traded up $1.35 on Monday, reaching $221.09. 453,334 shares of the company's stock were exchanged, compared to its average volume of 348,654. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 31.01 and a beta of 0.55. The stock has a fifty day simple moving average of $193.21 and a 200-day simple moving average of $158.66. 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 announced its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 EPS for the quarter, beating 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 company had revenue of $193.66 million for the quarter, compared to analysts' expectations of $193.75 million. During the same period in the prior year, the company posted $0.58 EPS. Argan's revenue was up 22.8% compared to the same quarter last year.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 23rd will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Wednesday, July 23rd. Argan's payout ratio is currently 21.04%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC bought a new stake in shares of Argan during the fourth quarter valued at about $32,000. Larson Financial Group LLC grew its stake in Argan by 2,987.5% during the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company's stock valued at $32,000 after acquiring an additional 239 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Argan during the 4th quarter worth approximately $35,000. McIlrath & Eck LLC lifted its stake in Argan by 419.4% in the 4th quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock worth $51,000 after purchasing an additional 302 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Argan in the 4th quarter worth approximately $57,000. Institutional investors own 79.43% of the company's stock.

Analyst Upgrades and Downgrades

AGX has been the subject of several analyst reports. Kepler Capital Markets lowered shares of Argan from a "strong-buy" rating to a "hold" rating in a research note 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 report on Thursday, June 5th.

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.

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