Rainer H. Bosselmann Sells 25,000 Shares of Argan, Inc. (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Rainer H. Bosselmann sold 25,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $71.52, for a total value of $1,788,000.00. Following the transaction, the director now owns 273,916 shares of the company’s stock, valued at $19,590,472.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Argan Trading Down 0.9 %

AGX opened at $69.76 on Thursday. The stock’s 50-day moving average price is $70.82 and its 200 day moving average price is $56.90. Argan, Inc. has a 12-month low of $37.37 and a 12-month high of $78.95. The firm has a market cap of $931.30 million, a price-to-earnings ratio of 24.83 and a beta of 0.51.

Argan (NYSE:AGX) last posted its earnings results on Thursday, June 6th. The construction company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. The firm had revenue of $157.70 million for the quarter, compared to analyst estimates of $134.75 million. Argan had a return on equity of 13.22% and a net margin of 6.08%. Argan’s revenue was up 52.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS.

Argan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 23rd will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, July 23rd. Argan’s dividend payout ratio is currently 42.70%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AGX. Lake Street Capital increased their target price on Argan from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. StockNews.com lowered Argan from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th.

Institutional Investors Weigh In On Argan

Hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System acquired a new stake in Argan in the 4th quarter valued at about $53,000. DekaBank Deutsche Girozentrale acquired a new stake in Argan in the 4th quarter valued at about $64,000. EntryPoint Capital LLC acquired a new stake in Argan in the 1st quarter valued at about $95,000. CWM LLC raised its position in Argan by 84.6% in the 2nd 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Argan by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,656 shares of the construction company’s stock valued at $286,000 after purchasing an additional 539 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

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.