Rainer H. Bosselmann Sells 25,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGXGet Free Report) Director Rainer H. Bosselmann sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $76.85, for a total transaction of $1,921,250.00. Following the completion of the sale, the director now directly owns 272,719 shares of the company’s stock, valued at $20,958,455.15. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Argan Stock Performance

AGX traded up $1.49 during midday trading on Monday, reaching $78.29. The company had a trading volume of 175,181 shares, compared to its average volume of 95,672. The stock has a market cap of $1.05 billion, a PE ratio of 27.40 and a beta of 0.45. The business has a 50-day moving average price of $65.34 and a two-hundred day moving average price of $53.37. Argan, Inc. has a 12-month low of $37.37 and a 12-month high of $78.95.

Argan (NYSE:AGXGet Free Report) last announced its quarterly earnings results on Thursday, June 6th. The construction company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $157.70 million for the quarter, compared to analysts’ expectations of $134.75 million. Argan had a net margin of 6.08% and a return on equity of 13.22%. Argan’s revenue was up 52.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS.

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 22nd were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, April 19th. Argan’s payout ratio is currently 42.70%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Argan from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. Lake Street Capital boosted their target price on shares of Argan from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, June 7th.

Get Our Latest Research Report on Argan

Institutional Trading of Argan

Institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC grew its position in shares of Argan by 120.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 45,260 shares of the construction company’s stock valued at $2,118,000 after purchasing an additional 24,769 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Argan by 360.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,005 shares of the construction company’s stock valued at $842,000 after buying an additional 14,092 shares during the period. SG Americas Securities LLC boosted its stake in Argan by 18.8% during the fourth quarter. SG Americas Securities LLC now owns 6,918 shares of the construction company’s stock valued at $324,000 after buying an additional 1,093 shares during the period. Teacher Retirement System of Texas boosted its stake in Argan by 91.6% during the fourth quarter. Teacher Retirement System of Texas now owns 18,210 shares of the construction company’s stock valued at $852,000 after buying an additional 8,704 shares during the period. Finally, Trexquant Investment LP bought a new stake in Argan during the fourth quarter valued at $623,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

About Argan

(Get Free Report)

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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