Argan, Inc. (NYSE:AGX - Get Free Report) shares dropped 6% on Monday . The company traded as low as $229.00 and last traded at $228.56. Approximately 98,626 shares were traded during trading, a decline of 70% from the average daily volume of 331,529 shares. The stock had previously closed at $243.11.
Wall Street Analysts Forecast Growth
AGX has been the subject of several recent research reports. Kepler Capital Markets lowered shares of Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Lake Street Capital boosted their price target on shares of Argan from $150.00 to $236.00 and gave the company a "buy" rating in a report on Thursday, June 5th.
View Our Latest Analysis on AGX
Argan Stock Performance
The firm has a market cap of $3.03 billion, a P/E ratio of 46.50 and a beta of 0.55. The firm's fifty day moving average price is $173.97 and its 200 day moving average price is $152.92.
Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.09 by $0.51. The business had revenue of $193.66 million during the quarter, compared to analyst estimates of $193.75 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company's quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS.
Argan Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were paid a dividend of $0.375 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $1.50 annualized dividend and a dividend yield of 0.67%. Argan's dividend payout ratio (DPR) is presently 21.04%.
Insider Buying and Selling
In related news, Director Peter W. Getsinger sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total transaction of $725,150.00. Following the completion of the transaction, the director now owns 11,496 shares in the company, valued at $1,667,264.88. The trade was a 30.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard H. Deily sold 1,565 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total transaction of $238,380.80. Following the transaction, the chief financial officer now owns 7,802 shares of the company's stock, valued at approximately $1,188,400.64. This trade represents a 16.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,585 shares of company stock worth $12,666,783 in the last 90 days. 6.69% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of AGX. Balyasny Asset Management L.P. acquired a new position in Argan during the 4th quarter valued at approximately $23,064,000. Goodlander Investment Management LLC acquired a new position in Argan during the 1st quarter valued at approximately $18,364,000. Renaissance Technologies LLC increased its stake in Argan by 21.0% during the 4th quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company's stock valued at $92,170,000 after purchasing an additional 116,783 shares in the last quarter. Thames Capital Management LLC increased its stake in Argan by 286.8% during the 4th quarter. Thames Capital Management LLC now owns 117,384 shares of the construction company's stock valued at $16,086,000 after purchasing an additional 87,038 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Argan during the 1st quarter valued at approximately $11,307,000. Institutional investors and hedge funds 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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