Argan (NYSE:AGX) Stock Price Down 6% - Time to Sell?

Argan, Inc. (NYSE:AGX - Get Free Report) shares dropped 6% during trading on Monday . The company traded as low as $229.00 and last traded at $228.56. Approximately 98,626 shares traded hands 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

Several research analysts have weighed in on the stock. Kepler Capital Markets lowered shares of Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Lake Street Capital upped their price target on shares of Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a research note on Thursday.

Argan Trading Down 8.7%

The firm has a market cap of $3.03 billion, a P/E ratio of 46.42 and a beta of 0.55. The business's fifty day moving average price is $168.70 and its two-hundred day moving average price is $151.62.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.51. The company had revenue of $193.66 million during the quarter, compared to analysts' expectations of $193.75 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business's quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 earnings per share.

Argan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Tuesday, April 22nd. Argan's dividend payout ratio (DPR) is 21.04%.

Insider Transactions at Argan

In other news, CFO Richard H. Deily sold 1,565 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total value of $238,380.80. Following the transaction, the chief financial officer now directly owns 7,802 shares in the company, valued at $1,188,400.64. This trade represents a 16.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter W. Getsinger sold 2,292 shares of Argan stock in a transaction on Monday, April 14th. The stock was sold at an average price of $150.35, for a total value of $344,602.20. Following the sale, the director now directly owns 9,500 shares of the company's stock, valued at approximately $1,428,325. This trade represents a 19.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,857 shares of company stock worth $1,308,133 over the last three months. 6.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Argan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in Argan by 18.1% during the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after acquiring an additional 73,654 shares in the last quarter. Victory Capital Management Inc. grew its stake in Argan by 28.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock valued at $2,400,000 after purchasing an additional 3,880 shares in the last quarter. Intech Investment Management LLC raised its position in Argan by 95.7% during the fourth quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after acquiring an additional 3,199 shares in the last quarter. Thoroughbred Financial Services LLC grew its holdings in Argan by 34.3% during the fourth quarter. Thoroughbred Financial Services LLC now owns 8,411 shares of the construction company's stock worth $1,152,000 after purchasing an additional 2,150 shares during the period. Finally, Nkcfo LLC acquired a new stake in Argan during the 4th quarter valued at $247,000. Institutional investors own 79.43% of the company's stock.

Argan Company Profile

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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