Argan, Inc. (NYSE:AGX) Director Sells $1,314,660.50 in Stock

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 10,105 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $130.10, for a total value of $1,314,660.50. Following the completion of the sale, the director now owns 219,879 shares of the company’s stock, valued at $28,606,257.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Argan Stock Down 3.7 %

Shares of NYSE AGX opened at $120.53 on Thursday. Argan, Inc. has a twelve month low of $39.74 and a twelve month high of $135.85. The firm has a market cap of $1.63 billion, a PE ratio of 37.90 and a beta of 0.53. The business has a fifty day simple moving average of $95.13 and a two-hundred day simple moving average of $78.39.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.34. The company had revenue of $227.02 million during the quarter, compared to analyst estimates of $191.05 million. Argan had a net margin of 6.11% and a return on equity of 14.80%. Argan’s revenue for the quarter was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.24%. This is a positive change from Argan’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, October 23rd. Argan’s dividend payout ratio (DPR) is presently 37.74%.

Institutional Trading of Argan

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Argan by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 726,171 shares of the construction company’s stock worth $36,701,000 after acquiring an additional 12,162 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Argan by 7.7% during the second quarter. Renaissance Technologies LLC now owns 537,296 shares of the construction company’s stock valued at $39,309,000 after buying an additional 38,300 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Argan by 31.8% in the 2nd quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock valued at $22,336,000 after buying an additional 73,658 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Argan by 32.8% in the 2nd quarter. Acadian Asset Management LLC now owns 175,245 shares of the construction company’s stock worth $12,811,000 after buying an additional 43,258 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Argan by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 112,979 shares of the construction company’s stock worth $8,266,000 after acquiring an additional 3,314 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

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.