Insider Selling: Argan Inc. (AGX) Director Sells $52,371.00 in Stock
Argan Inc. (NYSE:AGX) Director Peter W. Getsinger sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $58.19, for a total transaction of $52,371.00. Following the sale, the director now directly owns 12,935 shares in the company, valued at $752,687.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Argan Inc. (NYSE:AGX) opened at 57.37 on Wednesday. The firm has a market cap of $862.39 million, a P/E ratio of 17.63 and a beta of 1.29. The stock has a 50 day moving average of $54.03 and a 200-day moving average of $43.04. Argan Inc. has a 12 month low of $28.03 and a 12 month high of $60.09.
Argan (NYSE:AGX) last issued its earnings results on Tuesday, September 6th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.50. Argan had a net margin of 9.45% and a return on equity of 21.27%. The firm had revenue of $162.50 million for the quarter. Equities research analysts predict that Argan Inc. will post $3.62 earnings per share for the current fiscal year.
The company also recently announced an annual dividend, which will be paid on Friday, October 28th. Stockholders of record on Tuesday, October 18th will be issued a $0.70 dividend. This represents a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, October 14th. Argan’s dividend payout ratio is 21.41%.
Separately, Zacks Investment Research raised shares of Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a report on Thursday, September 8th.
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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