Argan Inc. (NYSE:AGX) Director James W. Quinn sold 10,000 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $56.41, for a total value of $564,100.00. Following the sale, the director now owns 89,570 shares in the company, valued at approximately $5,052,643.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Argan Inc. (NYSE:AGX) opened at 57.38 on Friday. Argan Inc. has a one year low of $28.03 and a one year high of $57.69. The company has a 50-day moving average price of $49.85 and a 200-day moving average price of $40.67. The firm has a market cap of $862.54 million, a PE ratio of 17.63 and a beta of 1.26.
Argan (NYSE:AGX) last released its earnings results on Tuesday, September 6th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.50. The firm earned $162.50 million during the quarter. Argan had a return on equity of 21.27% and a net margin of 9.45%. Equities analysts predict that Argan Inc. will post $3.62 earnings per share for the current fiscal year.
The company also recently announced an annual dividend, which will be paid on Friday, October 28th. Shareholders of record on Tuesday, October 18th will be given a $0.70 dividend. The ex-dividend date is Friday, October 14th. This represents a yield of 1.27%. Argan’s dividend payout ratio (DPR) is 21.41%.
Several research firms have recently issued reports on AGX. Zacks Investment Research upgraded Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a report on Thursday, September 8th. Lake Street Capital began coverage on Argan in a report 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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