Argan (NYSE:AGX) CEO Charles Edwin Iv Collins Sells 7,500 Shares of Stock

Argan, Inc. (NYSE:AGX) CEO Charles Edwin Iv Collins sold 7,500 shares of Argan stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $257.39, for a total transaction of $1,930,425.00. Following the completion of the sale, the chief executive officer directly owned 21,006 shares of the company’s stock, valued at approximately $5,406,734.34. This trade represents a 26.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Charles Edwin Iv Collins also recently made the following trade(s):

• On Thursday, July 31st, Charles Edwin Iv Collins sold 5,000 shares of Argan stock. The shares were sold at an average price of $245.00, for a total transaction of $1,225,000.00.
• On Tuesday, July 29th, Charles Edwin Iv Collins sold 1,500 shares of Argan stock. The shares were sold at an average price of $241.50, for a total transaction of $362,250.00.

Argan Trading Up 3.2%

AGX opened at $268.99 on Tuesday. The company has a fifty day moving average price of $228.54 and a two-hundred day moving average price of $191.86. The company has a market cap of $3.71 billion, a P/E ratio of 32.33 and a beta of 0.62. Argan, Inc. has a 1-year low of $93.26 and a 1-year high of $269.35.

Argan (NYSE:AGX) last posted its earnings results on Thursday, September 4th. The construction company reported $2.50 EPS for the quarter, topping the consensus estimate of $1.99 by $0.51. The company had revenue of $237.74 million during the quarter, compared to the consensus estimate of $243.97 million. Argan had a net margin of 12.73% and a return on equity of 32.61%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share.

Argan Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 23rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Argan’s previous quarterly dividend of $0.38. Argan’s payout ratio is currently 18.03%.

Institutional Investors Weigh In On Argan

Large investors have recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in shares of Argan by 2,987.5% during the 1st quarter. Larson Financial Group LLC now owns 247 shares of the construction company’s stock valued at $32,000 after purchasing an additional 239 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in Argan in the second quarter worth about $44,000. IFP Advisors Inc purchased a new position in Argan in the second quarter worth about $71,000. EverSource Wealth Advisors LLC raised its holdings in Argan by 1,116.7% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the construction company’s stock worth $80,000 after buying an additional 335 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Argan during the first quarter valued at approximately $109,000. Institutional investors own 79.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on AGX shares. Kepler Capital Markets cut shares of Argan from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of Argan from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Lake Street Capital increased their price target on shares of Argan from $236.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, September 5th. JPMorgan Chase & Co. assumed coverage on shares of Argan in a report on Monday, July 21st. They issued a “neutral” rating and a $220.00 price target on the stock. Finally, Glj Research assumed coverage on shares of Argan in a report on Monday. They issued a “hold” rating and a $251.00 price target on the stock. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $220.25.

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.