Argan, Inc. (NYSE:AGX) Director Mano S. Koilpillai Sells 2,700 Shares of Stock

Argan, Inc. (NYSE:AGX) Director Mano S. Koilpillai sold 2,700 shares of Argan stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $61.79, for a total transaction of $166,833.00. Following the sale, the director now directly owns 7,608 shares in the company, valued at approximately $470,098.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Argan Trading Up 0.2 %

Shares of AGX stock opened at $61.31 on Friday. The company’s 50-day moving average price is $51.24 and its 200-day moving average price is $47.56. The stock has a market cap of $811.74 million, a price-to-earnings ratio of 25.65 and a beta of 0.49. Argan, Inc. has a twelve month low of $37.37 and a twelve month high of $62.69.

Argan (NYSE:AGX) last announced its quarterly earnings results on Thursday, April 11th. The construction company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.14. The firm had revenue of $164.55 million for the quarter, compared to analysts’ expectations of $162.05 million. Argan had a net margin of 5.64% and a return on equity of 11.37%. The company’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.46) EPS.

Argan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.96%. Argan’s payout ratio is 50.21%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AGX. Lake Street Capital lifted their target price on shares of Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. StockNews.com raised shares of Argan from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AGX. Essex Investment Management Co. LLC acquired a new position in shares of Argan during the 4th quarter valued at about $2,300,000. Azarias Capital Management L.P. raised its holdings in Argan by 37.6% in the 3rd quarter. Azarias Capital Management L.P. now owns 173,143 shares of the construction company’s stock valued at $7,881,000 after buying an additional 47,332 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Argan by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company’s stock valued at $18,011,000 after buying an additional 32,958 shares during the period. Acadian Asset Management LLC purchased a new stake in Argan in the 3rd quarter valued at about $1,298,000. Finally, Wesbanco Bank Inc. purchased a new stake in Argan in the 1st quarter valued at about $1,257,000. 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, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.