Argan (NYSE:AGX) CEO Sells $1,335,000.00 in Stock

Argan, Inc. (NYSE:AGX) CEO Charles Edwin Iv Collins sold 5,000 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $267.00, for a total value of $1,335,000.00. Following the completion of the sale, the chief executive officer owned 21,006 shares in the company, valued at approximately $5,608,602. The trade was a 19.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, September 18th, Charles Edwin Iv Collins sold 7,500 shares of Argan stock. The shares were sold at an average price of $257.39, for a total value of $1,930,425.00.
• 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 value 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 value of $362,250.00.

Argan Trading Up 3.1%

Shares of Argan stock opened at $266.23 on Friday. The firm has a market cap of $3.68 billion, a P/E ratio of 32.00 and a beta of 0.62. Argan, Inc. has a 12 month low of $98.51 and a 12 month high of $270.11. The stock’s fifty day moving average price is $232.58 and its 200-day moving average price is $195.53.

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

Argan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 23rd will be paid a dividend of $0.50 per share. This is an increase from Argan’s previous quarterly dividend of $0.38. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, October 23rd. Argan’s payout ratio is 18.03%.

Institutional Investors Weigh In On Argan

Large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its holdings in Argan by 6.5% in the second quarter. Ameritas Investment Partners Inc. now owns 1,354 shares of the construction company’s stock valued at $299,000 after acquiring an additional 83 shares during the period. Cardinal Capital Management lifted its holdings in Argan by 0.4% in the first quarter. Cardinal Capital Management now owns 31,086 shares of the construction company’s stock valued at $4,078,000 after acquiring an additional 111 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Argan by 12.7% in the first quarter. Nisa Investment Advisors LLC now owns 1,059 shares of the construction company’s stock valued at $139,000 after acquiring an additional 119 shares during the period. Meritage Portfolio Management lifted its holdings in Argan by 3.0% in the second quarter. Meritage Portfolio Management now owns 5,277 shares of the construction company’s stock valued at $1,163,000 after acquiring an additional 154 shares during the period. Finally, Great Lakes Advisors LLC lifted its holdings in Argan by 0.8% in the first quarter. Great Lakes Advisors LLC now owns 18,599 shares of the construction company’s stock valued at $2,440,000 after acquiring an additional 155 shares during the period. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AGX shares. JPMorgan Chase & Co. started coverage on Argan in a research note on Monday, July 21st. They issued a “neutral” rating and a $220.00 target price on the stock. Lake Street Capital lifted their target price on Argan from $236.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Wall Street Zen upgraded Argan from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Finally, Glj Research started coverage on Argan in a research note on Monday, September 22nd. They issued a “hold” rating and a $251.00 target price on the stock. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $220.25.

About Argan

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.