Argan, Inc. (NYSE:AGX - Get Free Report) CEO David Hibbert Watson sold 500 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $139.89, for a total transaction of $69,945.00. Following the sale, the chief executive officer now directly owns 68,636 shares in the company, valued at $9,601,490.04. This represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Argan Stock Down 11.1 %
Shares of NYSE AGX opened at $129.83 on Tuesday. Argan, Inc. has a 12-month low of $60.03 and a 12-month high of $191.46. The firm's 50-day simple moving average is $130.17 and its 200 day simple moving average is $139.87. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 27.16 and a beta of 0.45.
Argan (NYSE:AGX - Get Free Report) last announced its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $1.07. The company 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%. Argan's revenue was up 41.3% compared to the same quarter last year.
Argan Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be paid a $0.375 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.50 annualized dividend and a dividend yield of 1.16%. Argan's dividend payout ratio (DPR) is currently 24.55%.
Wall Street Analysts Forecast Growth
Separately, Lake Street Capital raised Argan from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a report on Friday, March 28th.
Get Our Latest Report on Argan
Hedge Funds Weigh In On Argan
Several large investors have recently made changes to their positions in AGX. Cardinal Capital Management raised its holdings in Argan by 0.4% during the 1st quarter. Cardinal Capital Management now owns 31,086 shares of the construction company's stock worth $4,078,000 after purchasing an additional 111 shares during the last quarter. Tcfg Wealth Management LLC acquired a new position in Argan in the first quarter valued at approximately $415,000. Wealth Enhancement Advisory Services LLC boosted its stake in Argan by 26.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,977 shares of the construction company's stock valued at $522,000 after acquiring an additional 839 shares during the last quarter. SG Americas Securities LLC grew its holdings in Argan by 362.2% during the 1st quarter. SG Americas Securities LLC now owns 4,969 shares of the construction company's stock worth $652,000 after acquiring an additional 3,894 shares during the period. Finally, Pallas Capital Advisors LLC raised its position in shares of Argan by 11.5% during the 1st quarter. Pallas Capital Advisors LLC now owns 2,044 shares of the construction company's stock valued at $268,000 after acquiring an additional 211 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company's stock.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
