Charles Edwin Iv Collins Sells 10,000 Shares of Argan (NYSE:AGX) Stock

by · The Cerbat Gem

Argan, Inc. (NYSE:AGX – Get Free Report) CEO Charles Edwin Iv Collins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $292.09, for a total value of $2,920,900.00. Following the transaction, the chief executive officer owned 21,006 shares in the company, valued at approximately $6,135,642.54. The trade was a 32.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Charles Edwin Iv Collins also recently made the following trade(s):

  • On Wednesday, September 24th, Charles Edwin Iv Collins sold 5,000 shares of Argan stock. The stock was sold at an average price of $267.00, for a total value of $1,335,000.00.
  • On Thursday, September 18th, Charles Edwin Iv Collins sold 7,500 shares of Argan stock. The stock was sold at an average price of $257.39, for a total value of $1,930,425.00.
  • On Thursday, July 31st, Charles Edwin Iv Collins sold 5,000 shares of Argan stock. The stock was sold at an average price of $245.00, for a total value of $1,225,000.00.
  • On Tuesday, July 29th, Charles Edwin Iv Collins sold 1,500 shares of Argan stock. The stock was sold at an average price of $241.50, for a total value of $362,250.00.

Argan Stock Performance

Shares of AGX stock opened at $296.32 on Friday. The firm has a market cap of $4.09 billion, a P/E ratio of 35.62 and a beta of 0.64. Argan, Inc. has a fifty-two week low of $101.02 and a fifty-two week high of $320.00. The business’s 50 day moving average price is $246.65 and its 200-day moving average price is $210.05.

Argan (NYSE:AGX – Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The construction company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.51. The firm had revenue of $237.74 million for the quarter, compared to analyst estimates of $243.97 million. Argan had a return on equity of 32.61% and a net margin of 12.73%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS.

Argan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 23rd. This is a boost from Argan’s previous quarterly dividend of $0.38. Argan’s dividend payout ratio (DPR) is 18.03%.

Analyst Ratings Changes

A number of research firms have recently commented on AGX. Glj Research began coverage on Argan in a research note on Monday, September 22nd. They issued a “hold” rating and a $251.00 target price for the company. JPMorgan Chase & Co. upgraded Argan from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $220.00 to $315.00 in a research note on Monday. Wall Street Zen upgraded Argan from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Argan in a research note on Wednesday, October 8th. Finally, UBS Group set a $315.00 price objective on Argan in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $258.20.

Get Our Latest Stock Analysis on AGX

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Larson Financial Group LLC increased its position in Argan by 2,987.5% during the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company’s stock valued at $32,000 after acquiring an additional 239 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new stake in Argan during the second quarter valued at $44,000. IFP Advisors Inc purchased a new stake in Argan during the second quarter valued at $71,000. EverSource Wealth Advisors LLC increased its position in Argan by 1,116.7% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the construction company’s stock valued at $80,000 after acquiring an additional 335 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Argan during the first quarter valued at $109,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

About Argan

(Get Free Report)

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.

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