Insider Buying: Argan, Inc. (AGX) Director Purchases 1,000 Shares of Stock

Argan, Inc. (NYSE:AGX) Director John Ronald Jr. Jeffrey bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average price of $47.60 per share, with a total value of $47,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Friday, October 20th, John Ronald Jr. Jeffrey bought 1,000 shares of Argan stock. The stock was purchased at an average price of $68.02 per share, with a total value of $68,020.00.
  • On Tuesday, September 19th, John Ronald Jr. Jeffrey bought 1,500 shares of Argan stock. The stock was purchased at an average price of $62.49 per share, with a total value of $93,735.00.

Shares of Argan, Inc. (NYSE:AGX) traded up $3.15 during midday trading on Monday, hitting $47.30. The company had a trading volume of 993,800 shares, compared to its average volume of 172,496. The firm has a market capitalization of $735.45, a price-to-earnings ratio of 8.74 and a beta of 0.86. Argan, Inc. has a twelve month low of $44.00 and a twelve month high of $76.70.

Argan (NYSE:AGX) last issued its earnings results on Thursday, September 7th. The construction company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.69. The business had revenue of $259.80 million during the quarter, compared to analyst estimates of $217.75 million. Argan had a return on equity of 26.24% and a net margin of 9.18%. Argan’s revenue was up 59.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share.

Several hedge funds and other institutional investors have recently modified their holdings of AGX. C M Bidwell & Associates Ltd. acquired a new position in Argan during the second quarter worth $106,000. Victory Capital Management Inc. raised its stake in Argan by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,001 shares of the construction company’s stock worth $120,000 after acquiring an additional 301 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Argan during the second quarter worth $123,000. Amica Retiree Medical Trust acquired a new position in Argan during the third quarter worth $123,000. Finally, Quantbot Technologies LP acquired a new position in Argan during the second quarter worth $181,000. Institutional investors and hedge funds own 87.55% of the company’s stock.

A number of research analysts recently commented on AGX shares. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and cut their target price for the company from $71.00 to $56.00 in a research note on Thursday. BidaskClub lowered Argan from a “hold” rating to a “sell” rating in a research note on Monday, August 14th.

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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.

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

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