Insider Selling: Argan (NYSE:AGX) Director Sells $2,459,556.60 in Stock

Argan, Inc. (NYSE:AGX) Director John Ronald Jr. Jeffrey sold 4,556 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $539.85, for a total value of $2,459,556.60. Following the transaction, the director directly owned 3,636 shares in the company, valued at $1,962,894.60. This trade represents a 55.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

John Ronald Jr. Jeffrey also recently made the following trade(s):

• On Tuesday, January 27th, John Ronald Jr. Jeffrey sold 5,000 shares of Argan stock. The shares were sold at an average price of $360.78, for a total value of $1,803,900.00.
• On Tuesday, January 20th, John Ronald Jr. Jeffrey sold 2,700 shares of Argan stock. The stock was sold at an average price of $380.60, for a total value of $1,027,620.00.

Argan Stock Down 0.2%

NYSE AGX opened at $573.82 on Friday. The business’s fifty day simple moving average is $437.11 and its 200-day simple moving average is $359.06. The firm has a market cap of $8.00 billion, a PE ratio of 58.91 and a beta of 0.46. Argan, Inc. has a 52 week low of $111.16 and a 52 week high of $588.00.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, March 26th. The construction company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $1.48. Argan had a net margin of 14.59% and a return on equity of 33.62%. The firm had revenue of $262.05 million during the quarter, compared to analyst estimates of $255.32 million. During the same quarter in the prior year, the firm posted $2.22 earnings per share. Argan’s quarterly revenue was up 12.7% on a year-over-year basis.

Institutional Investors Weigh In On Argan

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Argan by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 827,482 shares of the construction company’s stock worth $259,267,000 after acquiring an additional 3,068 shares in the last quarter. First Trust Advisors LP boosted its holdings in Argan by 7.1% in the fourth quarter. First Trust Advisors LP now owns 599,149 shares of the construction company’s stock valued at $187,725,000 after purchasing an additional 39,683 shares during the period. Maverick Capital Ltd. purchased a new position in Argan in the fourth quarter valued at $137,503,000. Dimensional Fund Advisors LP grew its stake in Argan by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 435,761 shares of the construction company’s stock worth $117,677,000 after purchasing an additional 4,027 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Argan by 25.1% during the 4th quarter. Geode Capital Management LLC now owns 400,379 shares of the construction company’s stock worth $125,462,000 after purchasing an additional 80,415 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. CJS Securities raised shares of Argan to a “hold” rating in a research report on Thursday, December 11th. Freedom Capital raised Argan to a “hold” rating in a research note on Tuesday, March 10th. Lake Street Capital lifted their target price on Argan from $325.00 to $375.00 and gave the company a “hold” rating in a research report on Friday, March 27th. JPMorgan Chase & Co. upgraded Argan from a “neutral” rating to an “overweight” rating and set a $550.00 price target for the company in a report on Friday, March 27th. Finally, Zacks Research raised shares of Argan from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $425.40.

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.