Argan, Inc. (NYSE:AGX) Chairman William F. Griffin, Jr. Sells 15,000 Shares of Stock

Argan, Inc. (NYSE:AGX) Chairman William F. Griffin, Jr. sold 15,000 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $59.99, for a total value of $899,850.00. Following the transaction, the chairman now directly owns 14,150 shares in the company, valued at approximately $848,858.50. The transaction was disclosed in a filing with the SEC, which is available at this link.

Argan Price Performance

Shares of NYSE AGX opened at $61.81 on Friday. The stock’s 50-day moving average is $50.04 and its two-hundred day moving average is $47.14. Argan, Inc. has a 1-year low of $37.37 and a 1-year high of $62.19. The company has a market cap of $818.36 million, a price-to-earnings ratio of 25.86 and a beta of 0.49.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, April 11th. The construction company reported $0.89 EPS for the quarter, beating 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 business had revenue of $164.55 million for the quarter, compared to the consensus estimate of $162.05 million. During the same quarter in the prior year, the business posted ($0.46) EPS. The business’s revenue for the quarter was up 38.5% on a year-over-year basis.

Argan Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AGX shares. Lake Street Capital increased their target price on Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. StockNews.com upgraded Argan from a “buy” rating to a “strong-buy” rating in a report on Monday, April 15th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Jump Financial LLC purchased a new position in shares of Argan in the 3rd quarter valued at about $493,000. Campbell & CO Investment Adviser LLC purchased a new position in Argan during the 3rd quarter worth approximately $666,000. SG Americas Securities LLC grew its stake in Argan by 18.8% during the 4th quarter. SG Americas Securities LLC now owns 6,918 shares of the construction company’s stock worth $324,000 after buying an additional 1,093 shares during the last quarter. Azarias Capital Management L.P. grew its stake in Argan by 37.6% during the 3rd quarter. Azarias Capital Management L.P. now owns 173,143 shares of the construction company’s stock worth $7,881,000 after buying an additional 47,332 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Argan by 9.1% during 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. Hedge funds and other institutional investors own 79.43% of the company’s stock.

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.