William F Griffin Jr, serving as the Non-Executive Chairman and Director of Argan Inc (NASDAQ: AGX), has executed a substantial divestment of the company's common stock, realizing approximately $36.9 million through two separate transactions in June 2026. The sales were conducted over distinct dates, with shares changing hands at prices ranging between $725.85 and $760.43 per share.
According to a Form 4 filing submitted to the Securities and Exchange Commission, Griffin sold 30,000 shares on the open market on June 18, 2026, at an average price of $725.85. Four days later, on June 22, 2026, he liquidated an additional 20,000 shares at an average price of $760.43. These transactions were facilitated indirectly through the William F Griffin Jr GRAT II, dated October 6, 2025. Following the completion of these sales, Griffin's indirect ownership stake in Argan Inc stands at 40,976 shares.
The insider sale unfolds against a backdrop of significant stock price appreciation for AGX. The share price has surged 281% over the past year, currently trading at $736.77 and supporting a market capitalization of $10.3 billion. Market analysis from InvestingPro indicates that the stock may be trading at a premium relative to its fair value, citing a P/E ratio of 64. This valuation metric suggests that the stock is pricing in substantial future growth expectations.
Argan Inc recently reported strong financial performance for the first quarter of fiscal 2027. The company delivered earnings per share of $3.24, significantly surpassing the forecasted $1.82. Consolidated revenue reached $291 million, exceeding expectations by 16.68%. In conjunction with these results, Argan announced a regular quarterly cash dividend of $0.50 per share, payable on July 31, 2026, to shareholders of record as of July 23, 2026.
In analyst updates, Freedom Broker raised its price target for Argan to $700 from $523, maintaining a Hold rating. The firm cited the company's strong execution and robust demand for power generation capacity as key factors supporting its outlook. Meanwhile, Jefferies highlighted increased local opposition to data center construction across the United States, noting that certain regions remain more favorable for development. These developments reflect the current business environment and investor interest surrounding Argan Inc.