Insider Selling: Argan Inc. (AGX) Director Sells $295,600.00 in Stock
Argan Inc. (NYSE:AGX) Director William F. Leimkuhler sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $59.12, for a total value of $295,600.00. Following the sale, the director now directly owns 25,000 shares in the company, valued at approximately $1,478,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Argan Inc. (NYSE:AGX) opened at 59.46 on Friday. The firm has a 50 day moving average price of $53.18 and a 200 day moving average price of $42.48. The company has a market cap of $893.80 million, a PE ratio of 18.27 and a beta of 1.29. Argan Inc. has a 12-month low of $28.03 and a 12-month high of $60.09.
Argan (NYSE:AGX) last issued its quarterly earnings data on Tuesday, September 6th. The company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.50. The firm had revenue of $162.50 million for the quarter. Argan had a net margin of 9.45% and a return on equity of 21.27%. On average, analysts anticipate that Argan Inc. will post $3.62 earnings per share for the current fiscal year.
The company also recently disclosed an annual dividend, which will be paid on Friday, October 28th. Shareholders of record on Tuesday, October 18th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 14th. This represents a yield of 1.27%. Argan’s dividend payout ratio is 21.41%.
AGX has been the topic of several research reports. Zacks Investment Research raised Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a report on Thursday, September 8th. Lake Street Capital initiated coverage on Argan in a report on Thursday, June 9th. They issued a “buy” rating on the stock.
Argan Company Profile
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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