Argan Inc. (AGX) Director Sells $572,400.00 in Stock
Argan Inc. (NYSE:AGX) Director Cynthia Flanders sold 10,000 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $57.24, for a total value of $572,400.00. Following the completion of the transaction, the director now owns 22,000 shares of the company’s stock, valued at approximately $1,259,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Argan Inc. (NYSE:AGX) opened at 59.19 on Monday. Argan Inc. has a 12-month low of $28.03 and a 12-month high of $59.41. The firm has a 50-day moving average price of $51.74 and a 200-day moving average price of $41.75. The company has a market cap of $889.74 million, a P/E ratio of 18.18 and a beta of 1.29.
Argan (NYSE:AGX) last released its quarterly earnings results on Tuesday, September 6th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.50. The business earned $162.50 million during the quarter. Argan had a return on equity of 21.27% and a net margin of 9.45%. On average, equities research analysts forecast that Argan Inc. will post $3.62 earnings per share for the current fiscal year.
The company also recently declared an annual dividend, which will be paid on Friday, October 28th. Shareholders of record on Tuesday, October 18th will be issued a dividend of $0.70 per share. This represents a yield of 1.27%. The ex-dividend date is Friday, October 14th. Argan’s dividend payout ratio is presently 21.41%.
A number of research firms have issued reports on AGX. Lake Street Capital began coverage on Argan in a report on Thursday, June 9th. They issued a “buy” rating for the company. Zacks Investment Research upgraded Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective for the company in a report on Thursday, September 8th.
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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