William F. Leimkuhler Sells 10,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director William F. Leimkuhler sold 10,000 shares of Argan stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $96.20, for a total transaction of $962,000.00. Following the transaction, the director now directly owns 35,852 shares in the company, valued at $3,448,962.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Argan Stock Down 1.0 %

Shares of NYSE AGX opened at $95.28 on Wednesday. The company has a market cap of $1.27 billion, a P/E ratio of 33.91 and a beta of 0.51. Argan, Inc. has a 52 week low of $39.74 and a 52 week high of $97.66. The business has a 50-day simple moving average of $78.82 and a two-hundred day simple moving average of $69.30.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. The company had revenue of $227.02 million during the quarter, compared to analyst estimates of $191.05 million. Argan had a net margin of 6.11% and a return on equity of 14.80%. The firm’s revenue for the quarter was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be issued a $0.375 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $1.50 annualized dividend and a dividend yield of 1.57%. This is a boost from Argan’s previous quarterly dividend of $0.30. Argan’s dividend payout ratio is presently 53.38%.

Analyst Ratings Changes

Several research firms have recently issued reports on AGX. Lake Street Capital upped their target price on Argan from $70.00 to $85.00 and gave the company a “buy” rating in a report on Friday, June 7th. StockNews.com lowered shares of Argan from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th.

Institutional Investors Weigh In On Argan

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MKP Capital Management L.L.C. bought a new position in Argan in the 2nd quarter worth about $878,000. Acadian Asset Management LLC raised its stake in Argan by 32.8% in the second quarter. Acadian Asset Management LLC now owns 175,245 shares of the construction company’s stock valued at $12,811,000 after purchasing an additional 43,258 shares in the last quarter. L & S Advisors Inc bought a new stake in Argan during the second quarter valued at approximately $1,273,000. Bailard Inc. purchased a new position in Argan in the 2nd quarter worth approximately $293,000. Finally, Trexquant Investment LP bought a new position in shares of Argan in the 4th quarter worth $623,000. 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, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.