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

Argan, Inc. (NYSE:AGX) CFO Richard H. Deily sold 6,256 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $61.15, for a total transaction of $382,554.40. Following the completion of the transaction, the chief financial officer now directly owns 8,185 shares in the company, valued at approximately $500,512.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Argan Stock Performance

NYSE AGX opened at $61.81 on Friday. Argan, Inc. has a one year low of $37.37 and a one year high of $62.19. The company has a 50-day simple moving average of $50.04 and a 200-day simple moving average of $47.14. The firm has a market capitalization of $818.36 million, a PE ratio of 25.86 and a beta of 0.49.

Argan (NYSE:AGX) last posted its quarterly earnings results on Thursday, April 11th. The construction company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.75 by $0.14. The business had revenue of $164.55 million during 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 company’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.46) EPS.

Argan Announces Dividend

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

Institutional Trading of Argan

Institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System acquired a new stake in shares of Argan in the 4th quarter worth approximately $53,000. Quantbot Technologies LP lifted its stake in Argan by 390.9% during the second quarter. Quantbot Technologies LP now owns 1,620 shares of the construction company’s stock valued at $60,000 after purchasing an additional 1,290 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Argan during the fourth quarter valued at approximately $64,000. Lazard Asset Management LLC acquired a new stake in Argan during the second quarter valued at approximately $80,000. Finally, PNC Financial Services Group Inc. acquired a new stake in Argan during the first quarter valued at approximately $109,000. 79.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Lake Street Capital raised their price target on shares of Argan from $61.00 to $70.00 and gave the company a “buy” rating in a report on Friday, April 12th. StockNews.com raised shares of Argan from a “buy” rating to a “strong-buy” rating in a report on Monday, April 15th.

About Argan

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.