Mano S. Koilpillai Sells 2,700 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Mano S. Koilpillai sold 2,700 shares of Argan stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $61.79, for a total value of $166,833.00. Following the sale, the director now owns 7,608 shares of the company’s stock, valued at approximately $470,098.32. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Argan Trading Up 0.2 %

Argan stock opened at $61.31 on Friday. The stock has a 50-day moving average price of $51.24 and a 200 day moving average price of $47.56. Argan, Inc. has a 52 week low of $37.37 and a 52 week high of $62.69. The stock has a market cap of $811.74 million, a PE ratio of 25.65 and a beta of 0.49.

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

Argan Dividend Announcement

The firm also recently declared 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, April 19th. Argan’s payout ratio is 50.21%.

Analyst Ratings Changes

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

Institutional Trading of Argan

A number of hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Argan by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company’s stock worth $18,011,000 after buying an additional 32,958 shares during the last quarter. Azarias Capital Management L.P. lifted its stake in shares of Argan by 4.3% in the 4th quarter. Azarias Capital Management L.P. now owns 180,525 shares of the construction company’s stock valued at $8,447,000 after purchasing an additional 7,382 shares in the last quarter. Legato Capital Management LLC lifted its stake in shares of Argan by 13.0% in the 4th quarter. Legato Capital Management LLC now owns 116,613 shares of the construction company’s stock valued at $5,456,000 after purchasing an additional 13,431 shares in the last quarter. Money Concepts Capital Corp lifted its stake in shares of Argan by 1.4% in the 3rd quarter. Money Concepts Capital Corp now owns 109,022 shares of the construction company’s stock valued at $4,963,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Argan by 1.0% in the 1st quarter. Raymond James & Associates now owns 90,801 shares of the construction company’s stock valued at $4,589,000 after purchasing an additional 935 shares in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

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.