Cynthia Flanders Sells 5,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Cynthia Flanders sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $96.39, for a total value of $481,950.00. Following the sale, the director now owns 17,332 shares of the company’s stock, valued at $1,670,631.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Argan Stock Up 2.0 %

Shares of NYSE:AGX opened at $100.43 on Friday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 35.74 and a beta of 0.51. The company has a 50 day moving average of $80.19 and a two-hundred day moving average of $70.05. Argan, Inc. has a 52-week low of $39.74 and a 52-week high of $103.00.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. Argan had a net margin of 6.11% and a return on equity of 14.80%. The business had revenue of $227.02 million during the quarter, compared to analyst estimates of $191.05 million. Argan’s revenue was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $0.375 per share. This is a boost from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Wednesday, October 23rd. Argan’s dividend payout ratio is 42.70%.

Analysts Set New Price Targets

AGX has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Argan from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. Lake Street Capital boosted their price objective on Argan from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, June 7th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AGX. Point72 Asia Singapore Pte. Ltd. bought a new position in Argan during the 2nd quarter worth approximately $41,000. Point72 DIFC Ltd bought a new position in Argan during the second quarter worth $70,000. EntryPoint Capital LLC acquired a new position in Argan in the first quarter worth $95,000. Quest Partners LLC increased its stake in Argan by 3,321.4% during the second quarter. Quest Partners LLC now owns 1,916 shares of the construction company’s stock valued at $140,000 after purchasing an additional 1,860 shares during the last quarter. Finally, CWM LLC increased its stake in Argan by 84.6% during the second quarter. CWM LLC now owns 2,457 shares of the construction company’s stock valued at $180,000 after purchasing an additional 1,126 shares during the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

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.