W G. Champion Mitchell Sells 2,507 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director W G. Champion Mitchell sold 2,507 shares of Argan stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $61.48, for a total value of $154,130.36. Following the completion of the sale, the director now directly owns 2,500 shares in the company, valued at approximately $153,700. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Argan Price Performance

Shares of NYSE:AGX opened at $61.21 on Thursday. The business’s 50 day simple moving average is $50.96 and its 200-day simple moving average is $47.46. The firm has a market capitalization of $810.42 million, a price-to-earnings ratio of 25.61 and a beta of 0.49. Argan, Inc. has a 12 month low of $37.37 and a 12 month high of $62.69.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, April 11th. The construction company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. The firm had revenue of $164.55 million during the quarter, compared to analysts’ expectations of $162.05 million. Argan had a return on equity of 11.37% and a net margin of 5.64%. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter last 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 $0.30 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.20 annualized dividend and a yield of 1.96%. Argan’s payout ratio is currently 50.21%.

Wall Street Analysts Forecast Growth

AGX has been the topic of a number of analyst reports. Lake Street Capital lifted their price objective on Argan from $61.00 to $70.00 and gave the company a “buy” rating in a report on Friday, April 12th. StockNews.com raised Argan from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 15th.

Institutional Trading of Argan

Hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new stake in Argan in the 4th quarter worth approximately $53,000. DekaBank Deutsche Girozentrale purchased a new stake in Argan in the 4th quarter worth approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Argan by 68.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,720 shares of the construction company’s stock worth $169,000 after acquiring an additional 1,511 shares during the period. SG Americas Securities LLC acquired a new position in shares of Argan in the 3rd quarter valued at $265,000. Finally, Watershed Asset Management L.L.C. acquired a new position in shares of Argan in the 3rd quarter valued at $268,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

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.