Most Notable Insider Transactions Include Heavy Insider Selling at Adobe Systems and Argan

Several Insiders at Argan Offload Shares

A number of corporate insiders at Argan Inc. (NYSE:AGX) offloaded shares in the past several weeks, so let’s have a look at the “information-rich” set of insider selling only. Board member Henry A. Crumpton liquidated 20,000 shares on Monday at the price of $57.39 per share, cutting his overall holding 20,000 shares. James W. Quinn, another member of the company’s boardroom, discarded 10,000 shares on Friday for $57.08 each and 10,000 shares last Monday at $56.41 apiece. Following the recent sales, Mr. Quinn currently owns 79,570 shares.

The provider of engineering, other technical and consulting services to the power generation and renewable energy markets has seen its market value rise by 79% since the start of the year. Argan Inc. (NYSE:AGX)’s revenues for the three months that ended July 31 rose by 66.8% year-over-year to $162.5 million, while the company’s bottom line jumped by 74% year-on-year to $19.7 million. The number of hedge funds followed by Insider Monkey with equity stakes in Argan increased to 13 from 11 during the second quarter. The 13 asset managers amassed around 12% of the company’s total number of outstanding shares. David Brown’s Hawk Ridge Management owns approximately 320,000 shares of Argan Inc. (NYSE:AGX) as of June 30.

Executive and Board Member at Methode Electronics Sell Shares

Two insiders at Methode Electronics Inc. (NYSE:MEI) have been discarding shares over the past several trading sessions. To start with, Timothy R. Glandon, Vice President and General Manager of North American Operations, sold 23,825 shares on Friday at a price of $35.01 per share, 13,195 shares on Monday for $35.04 each and 2,163 shares on Tuesday at $35.04 apiece. After this series of transactions, Mr. Glandon currently owns 24,847 shares. Moreover, Board member Lawrence B. Skatoff liquidated 500 shares on Friday, 1,000 shares on Thursday and 2,000 on Wednesday at prices that fell in the range of $34.87 and $35.24 per share. The Board member currently owns 39,350 shares.

The stock of the global manufacturer of component and subsystem devices is 11% in the green this year. Methode Electronics Inc. (NYSE:MEI) posted net sales of $191.9 million for the three months that ended July 30, a decrease of 5.6% year-over-year. The decrease was mainly driven by lower net sales from the Automotive segment, reflecting lower sales volumes of transmission lead-frame assemblies and ignition and steering wheel switch products, as well as unfavorable exchange rate fluctuations. Royce & Associates, founded by Chuck Royce, owned 853,006 shares of Methode Electronics Inc. (NYSE:MEI) at the end of the April-June quarter.

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