Peter W. Getsinger Sells 800 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 800 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $155.24, for a total transaction of $124,192.00. Following the sale, the director now owns 19,177 shares of the company’s stock, valued at approximately $2,977,037.48. This represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Argan Stock Performance

AGX stock opened at $175.15 on Thursday. Argan, Inc. has a one year low of $43.44 and a one year high of $178.38. The stock has a market capitalization of $2.38 billion, a PE ratio of 36.64 and a beta of 0.56. The company has a fifty day moving average of $149.45 and a 200-day moving average of $111.96.

Argan (NYSE:AGX) last released its earnings results on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.26 by $0.74. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $225.60 million. The company’s revenue for the quarter was up 56.9% compared to the same quarter last year.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, January 23rd. Argan’s dividend payout ratio (DPR) is presently 31.38%.

Institutional Trading of Argan

Several hedge funds and other institutional investors have recently made changes to their positions in AGX. Wellington Management Group LLP lifted its stake in shares of Argan by 81.8% in the third quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock valued at $92,408,000 after purchasing an additional 409,948 shares during the period. American Century Companies Inc. lifted its stake in shares of Argan by 31.8% in the second quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock valued at $22,336,000 after purchasing an additional 73,658 shares during the period. Hood River Capital Management LLC acquired a new stake in shares of Argan in the second quarter valued at about $5,245,000. Lord Abbett & CO. LLC acquired a new stake in shares of Argan in the third quarter valued at about $6,687,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Argan by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company’s stock valued at $11,586,000 after purchasing an additional 47,881 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.

Wall Street Analyst Weigh In

AGX has been the subject of a number of recent research reports. StockNews.com cut shares of Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and increased their price target for the stock from $85.00 to $150.00 in a research note on Tuesday, December 3rd. Finally, CJS Securities reiterated a “market perform” rating and set a $150.00 price target on shares of Argan in a research note on Friday, December 6th.

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.