Argan, Inc. (NYSE:AGX - Get Free Report) CFO Richard H. Deily sold 6,256 shares of the firm's stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $61.15, for a total transaction of $382,554.40. Following the sale, the chief financial officer now owns 8,185 shares in the company, valued at $500,512.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Argan Stock Up 1.3 %
NYSE AGX opened at $61.81 on Friday. Argan, Inc. has a 12-month low of $37.37 and a 12-month high of $62.19. The company has a market capitalization of $818.36 million, a PE ratio of 25.86 and a beta of 0.49. The firm's 50 day moving average is $50.04 and its 200-day moving average is $47.14.
Argan (NYSE:AGX - Get Free Report) last issued its earnings results on Thursday, April 11th. The construction company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.14. The business had revenue of $164.55 million for the quarter, compared to the consensus estimate of $162.05 million. Argan had a net margin of 5.64% and a return on equity of 11.37%. The firm's revenue for the quarter was up 38.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.46) earnings per share.
Argan Announces Dividend
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 22nd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.94%. Argan's payout ratio is 50.21%.
Hedge Funds Weigh In On Argan
Institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new position in Argan during the third quarter worth $493,000. Campbell & CO Investment Adviser LLC bought a new position in Argan during the third quarter worth $666,000. SG Americas Securities LLC boosted its position in Argan by 18.8% during the fourth quarter. SG Americas Securities LLC now owns 6,918 shares of the construction company's stock worth $324,000 after purchasing an additional 1,093 shares during the period. Azarias Capital Management L.P. boosted its position in Argan by 37.6% during the third quarter. Azarias Capital Management L.P. now owns 173,143 shares of the construction company's stock worth $7,881,000 after purchasing an additional 47,332 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Argan by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company's stock worth $18,011,000 after purchasing an additional 32,958 shares during the period. 79.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have commented on AGX shares. StockNews.com upgraded shares of Argan from a "buy" rating to a "strong-buy" rating in a report on Monday, April 15th. Lake Street Capital raised their target price on shares of Argan from $61.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, April 12th.
Read Our Latest Research Report on AGX
Argan Company Profile
(
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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.
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