Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger Sells 2,292 Shares of Stock

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 2,292 shares of Argan stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $150.35, for a total value of $344,602.20. Following the transaction, the director now directly owns 9,500 shares in the company, valued at approximately $1,428,325. The trade was a 19.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Argan Stock Performance

NYSE AGX opened at $146.19 on Friday. Argan, Inc. has a 1 year low of $59.89 and a 1 year high of $191.46. The business’s fifty day moving average is $130.66 and its two-hundred day moving average is $138.90. The stock has a market capitalization of $1.99 billion, a P/E ratio of 30.58 and a beta of 0.45.

Argan (NYSE:AGX) last announced its earnings results on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, beating the consensus estimate of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. Argan’s quarterly revenue was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan’s dividend payout ratio is presently 24.55%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Tcfg Wealth Management LLC purchased a new stake in shares of Argan in the 1st quarter valued at approximately $415,000. Wealth Enhancement Advisory Services LLC raised its stake in Argan by 26.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,977 shares of the construction company’s stock valued at $522,000 after purchasing an additional 839 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Argan by 362.2% in the first quarter. SG Americas Securities LLC now owns 4,969 shares of the construction company’s stock valued at $652,000 after purchasing an additional 3,894 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Argan by 11.5% in the first quarter. Pallas Capital Advisors LLC now owns 2,044 shares of the construction company’s stock valued at $268,000 after purchasing an additional 211 shares in the last quarter. Finally, City Center Advisors LLC acquired a new stake in shares of Argan in the first quarter worth $223,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Lake Street Capital upgraded shares of Argan from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Friday, March 28th.

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.