Argan, Inc. (NYSE:AGX - Get Free Report) Director Peter W. Getsinger sold 2,292 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $150.35, for a total transaction of $344,602.20. Following the transaction, the director now directly owns 9,500 shares in the company, valued at $1,428,325. The trade was a 19.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Argan Price Performance
AGX opened at $146.19 on Friday. The company has a market capitalization of $1.99 billion, a PE ratio of 30.58 and a beta of 0.45. Argan, Inc. has a fifty-two week low of $59.89 and a fifty-two week high of $191.46. The business has a 50-day moving average of $130.66 and a 200-day moving average of $138.90.
Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.07. The firm had revenue of $232.47 million for the quarter, compared to analyst estimates of $197.50 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company's revenue was up 41.3% on a year-over-year basis.
Argan Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Tuesday, April 22nd. Argan's dividend payout ratio is presently 24.55%.
Hedge Funds Weigh In On Argan
Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Argan by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 843,583 shares of the construction company's stock worth $115,605,000 after buying an additional 16,784 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Argan by 21.0% in the 4th quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company's stock valued at $92,170,000 after acquiring an additional 116,783 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Argan by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 529,052 shares of the construction company's stock worth $72,502,000 after purchasing an additional 29,062 shares during the last quarter. American Century Companies Inc. boosted its position in Argan by 18.1% during the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after purchasing an additional 73,654 shares during the period. Finally, State Street Corp grew its holdings in Argan by 4.8% during the third quarter. State Street Corp now owns 353,984 shares of the construction company's stock valued at $35,905,000 after purchasing an additional 16,055 shares during the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Lake Street Capital upgraded shares of Argan from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a report on Friday, March 28th.
View Our Latest Research Report on AGX
Argan Company Profile
(
Get Free Report)
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.
Further Reading
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