Argan Inc. (NYSE:AGX) Director James W. Quinn sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $57.08, for a total transaction of $570,800.00. Following the transaction, the director now directly owns 79,570 shares in the company, valued at approximately $4,541,855.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Argan Inc. (NYSE:AGX) opened at 58.06 on Thursday. The firm’s 50-day moving average is $51.06 and its 200-day moving average is $41.45. Argan Inc. has a 1-year low of $28.03 and a 1-year high of $58.40. The stock has a market cap of $872.76 million, a P/E ratio of 17.84 and a beta of 1.26.
Argan (NYSE:AGX) last posted its quarterly earnings results on Tuesday, September 6th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $0.79 by $0.50. The business earned $162.50 million during the quarter. Argan had a net margin of 9.45% and a return on equity of 21.27%. On average, analysts forecast that Argan Inc. will post $3.62 EPS for the current year.
The business also recently declared an annual dividend, which will be paid on Friday, October 28th. Investors of record on Tuesday, October 18th will be issued a dividend of $0.70 per share. This represents a dividend yield of 1.27%. The ex-dividend date is Friday, October 14th. Argan’s dividend payout ratio is currently 21.41%.
A number of research firms have weighed in on AGX. Zacks Investment Research raised shares of Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research note on Thursday, September 8th. Lake Street Capital began coverage on shares of Argan in a research note on Thursday, June 9th. They set a “buy” rating on the stock.
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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