Peter W. Getsinger Sells 5,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 5,000 shares of Argan stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total transaction of $725,150.00. Following the sale, the director now directly owns 11,496 shares in the company, valued at approximately $1,667,264.88. This trade represents a 30.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Argan Stock Down 1.7 %

NYSE AGX opened at $146.19 on Friday. The business’s fifty day simple moving average is $130.57 and its 200-day simple moving average is $139.22. The firm has a market cap of $1.99 billion, a PE ratio of 30.58 and a beta of 0.45. Argan, Inc. has a 52 week low of $60.03 and a 52 week high of $191.46.

Argan (NYSE:AGX) last posted its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.07. The company had revenue of $232.47 million for the quarter, compared to analyst estimates of $197.50 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm’s revenue was up 41.3% compared to the same quarter last year.

Argan Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.50 annualized dividend and a yield of 1.03%. Argan’s dividend payout ratio (DPR) is 24.55%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Argan

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. acquired a new stake in shares of Argan during the 4th quarter worth about $23,064,000. Renaissance Technologies LLC increased its position in shares of Argan by 21.0% during the fourth quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company’s stock valued at $92,170,000 after acquiring an additional 116,783 shares during the last quarter. Thames Capital Management LLC raised its stake in shares of Argan by 286.8% in the 4th quarter. Thames Capital Management LLC now owns 117,384 shares of the construction company’s stock valued at $16,086,000 after acquiring an additional 87,038 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Argan by 80.3% in the 4th quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company’s stock valued at $25,549,000 after acquiring an additional 83,039 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Argan by 37.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company’s stock worth $40,475,000 after acquiring an additional 80,844 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

About Argan

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.