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

Argan, Inc. (NYSE:AGX) Director Mano S. Koilpillai sold 2,700 shares of the business’s 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 completion of the transaction, the director now 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 is available through this link.

Argan Stock Performance

Argan stock remained flat at $61.21 during mid-day trading on Thursday. 82,738 shares of the company’s stock were exchanged, compared to its average volume of 73,820. Argan, Inc. has a 1 year low of $37.37 and a 1 year high of $62.69. The firm’s fifty day moving average is $50.96 and its 200 day moving average is $47.46. The company has a market capitalization of $810.42 million, a price-to-earnings ratio of 25.61 and a beta of 0.49.

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

Argan Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AGX shares. StockNews.com raised Argan from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 15th. Lake Street Capital upped their price objective on Argan from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, April 12th.

Hedge Funds Weigh In On Argan

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Argan in the third quarter worth about $265,000. Pinnacle Associates Ltd. increased its holdings in shares of Argan by 3.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 21,712 shares of the construction company’s stock valued at $988,000 after purchasing an additional 775 shares during the period. Azarias Capital Management L.P. lifted its position in shares of Argan by 37.6% in the third quarter. Azarias Capital Management L.P. now owns 173,143 shares of the construction company’s stock worth $7,881,000 after purchasing an additional 47,332 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Argan by 68.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,720 shares of the construction company’s stock worth $169,000 after purchasing an additional 1,511 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Argan by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company’s stock valued at $18,011,000 after purchasing an additional 32,958 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, 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.