Argan (NYSE:AGX) Director William Leimkuhler Sells 2,164 Shares of Stock

Argan, Inc. (NYSE:AGX) Director William Leimkuhler sold 2,164 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $318.28, for a total transaction of $688,757.92. Following the transaction, the director directly owned 65,195 shares in the company, valued at $20,750,264.60. This trade represents a 3.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Argan Stock Up 1.2%

Shares of AGX opened at $317.87 on Thursday. The stock’s 50-day moving average price is $335.49 and its 200 day moving average price is $276.73. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 37.44 and a beta of 0.64. Argan, Inc. has a 12-month low of $101.02 and a 12-month high of $399.30.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, December 4th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.35. The company had revenue of $251.15 million during the quarter, compared to analysts’ expectations of $251.50 million. Argan had a net margin of 13.11% and a return on equity of 31.38%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.00 EPS.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 22nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, January 22nd. Argan’s dividend payout ratio is 23.56%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AGX. Weiss Ratings restated a “buy (b+)” rating on shares of Argan in a research note on Wednesday, December 24th. CJS Securities upgraded shares of Argan to a “hold” rating in a research report on Thursday, December 11th. UBS Group set a $315.00 price objective on shares of Argan in a report on Monday, October 13th. Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and lifted their target price for the company from $260.00 to $325.00 in a research note on Friday, December 5th. Finally, Zacks Research upgraded Argan from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Argan has an average rating of “Moderate Buy” and an average price target of $355.20.

Hedge Funds Weigh In On Argan

A number of large investors have recently modified their holdings of AGX. Aster Capital Management DIFC Ltd bought a new stake in shares of Argan during the third quarter valued at approximately $25,000. Danske Bank A S bought a new position in Argan in the 3rd quarter valued at $27,000. Accredited Wealth Management LLC bought a new position in Argan in the 3rd quarter valued at $32,000. USA Financial Formulas acquired a new stake in shares of Argan in the 4th quarter valued at $40,000. Finally, National Bank of Canada FI raised its position in shares of Argan by 26.7% during the third quarter. National Bank of Canada FI now owns 147 shares of the construction company’s stock worth $40,000 after acquiring an additional 31 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

About Argan

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.