W G. Champion Mitchell Sells 13,143 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director W G. Champion Mitchell sold 13,143 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $60.17, for a total transaction of $790,814.31. Following the transaction, the director now owns 5,197 shares in the company, valued at approximately $312,703.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Argan Stock Performance

Shares of NYSE AGX opened at $61.81 on Friday. The firm’s 50 day moving average price is $50.04 and its 200-day moving average price is $47.14. The company has a market cap of $818.36 million, a PE ratio of 25.86 and a beta of 0.49. Argan, Inc. has a 52-week low of $37.37 and a 52-week high of $62.19.

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

Argan Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in Argan by 12.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,264 shares of the construction company’s stock valued at $1,024,000 after purchasing an additional 2,259 shares during the period. Cardinal Capital Management lifted its position in Argan by 25.4% during the first quarter. Cardinal Capital Management now owns 28,724 shares of the construction company’s stock valued at $1,452,000 after purchasing an additional 5,820 shares during the period. Quadrature Capital Ltd lifted its position in Argan by 7.9% during the fourth quarter. Quadrature Capital Ltd now owns 16,754 shares of the construction company’s stock valued at $785,000 after purchasing an additional 1,233 shares during the period. Vanguard Group Inc. lifted its position in Argan by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 714,009 shares of the construction company’s stock valued at $33,408,000 after purchasing an additional 17,150 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Argan by 26.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 43,576 shares of the construction company’s stock worth $2,039,000 after acquiring an additional 9,219 shares during the period. Institutional investors own 79.43% of the company’s stock.

Analysts Set New Price Targets

AGX has been the topic of a number of recent research reports. StockNews.com upgraded shares of Argan from a “buy” rating to a “strong-buy” rating in a report on Monday, April 15th. Lake Street Capital upped their target price on shares of Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, April 12th.

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.