Argan, Inc. (NYSE:AGX) CFO Richard H. Deily Sells 6,256 Shares

Argan, Inc. (NYSE:AGX) CFO Richard H. Deily sold 6,256 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $61.15, for a total transaction of $382,554.40. Following the transaction, the chief financial officer now owns 8,185 shares of the company’s stock, valued at approximately $500,512.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Argan Stock Up 1.3 %

Shares of NYSE:AGX traded up $0.82 during midday trading on Friday, reaching $61.81. The company’s stock had a trading volume of 119,597 shares, compared to its average volume of 72,317. The firm has a market capitalization of $818.36 million, a PE ratio of 25.79 and a beta of 0.49. Argan, Inc. has a twelve month low of $37.37 and a twelve month high of $62.19. The stock has a fifty day moving average of $49.73 and a 200 day moving average of $47.02.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, April 11th. The construction company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. The firm had revenue of $164.55 million for the quarter, compared to analyst estimates of $162.05 million. Argan had a net margin of 5.64% and a return on equity of 11.37%. The business’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.46) earnings per share.

Argan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.94%. Argan’s payout ratio is currently 50.21%.

Institutional Trading of Argan

A number of hedge funds and other institutional investors have recently made changes to their positions in AGX. Cardinal Capital Management boosted its holdings in Argan by 1.0% during the fourth quarter. Cardinal Capital Management now owns 22,904 shares of the construction company’s stock worth $1,072,000 after buying an additional 237 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Argan by 3.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,904 shares of the construction company’s stock worth $417,000 after buying an additional 282 shares in the last quarter. Legal & General Group Plc boosted its holdings in Argan by 4.3% during the second quarter. Legal & General Group Plc now owns 6,903 shares of the construction company’s stock worth $258,000 after buying an additional 287 shares in the last quarter. Pinnacle Holdings LLC boosted its holdings in Argan by 1.3% during the first quarter. Pinnacle Holdings LLC now owns 25,159 shares of the construction company’s stock worth $1,021,000 after buying an additional 333 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Argan by 1.8% during the third quarter. Rhumbline Advisers now owns 22,978 shares of the construction company’s stock worth $1,046,000 after buying an additional 417 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AGX shares. Lake Street Capital upped their price target on shares of Argan from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, April 12th. StockNews.com upgraded shares of Argan from a “buy” rating to a “strong-buy” rating in a research note on Monday.

Argan Company Profile

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.