Insider Selling: Argan Inc. (AGX) Director Sells 5,000 Shares of Stock

Argan Inc. (NYSE:AGX) Director William F. Leimkuhler sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $59.12, for a total value of $295,600.00. Following the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $1,478,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Argan Inc. (NYSE:AGX) opened at 58.92 on Tuesday. Argan Inc. has a 12-month low of $28.03 and a 12-month high of $59.41. The company’s 50 day moving average price is $52.09 and its 200-day moving average price is $42.07. The firm has a market capitalization of $885.69 million, a price-to-earnings ratio of 18.10 and a beta of 1.29.

Argan (NYSE:AGX) last released its 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. Argan had a return on equity of 21.27% and a net margin of 9.45%. The business earned $162.50 million during the quarter. On average, equities analysts anticipate that Argan Inc. will post $3.62 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Argan (NYSE:AGX)

The firm also recently announced an annual dividend, which will be paid on Friday, October 28th. Investors of record on Tuesday, October 18th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, October 14th. This represents a yield of 1.27%. Argan’s dividend payout ratio is currently 21.41%.

Several research analysts have weighed in on the company. Lake Street Capital assumed coverage on Argan in a research report on Thursday, June 9th. They set a “buy” rating on the stock. Zacks Investment Research raised Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research report on Thursday, September 8th.

About Argan

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.

5 Day Chart for NYSE:AGX

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