Argan (NYSE:AGX) Trading Down 4.8% - Time to Sell?

Shares of Argan, Inc. (NYSE:AGX - Get Free Report) were down 4.8% during trading on Thursday . The stock traded as low as $201.72 and last traded at $203.02. Approximately 267,886 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 355,799 shares. The stock had previously closed at $213.25.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AGX. Lake Street Capital lifted their target price on shares of Argan from $150.00 to $236.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Kepler Capital Markets downgraded Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th.

Argan Stock Down 4.2%

The stock has a market capitalization of $2.79 billion, a PE ratio of 28.64 and a beta of 0.54. The stock has a fifty day moving average of $206.55 and a 200-day moving average of $164.05.

Argan (NYSE:AGX - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.51. The business had revenue of $193.66 million during the quarter, compared to analysts' expectations of $193.75 million. Argan had a net margin of 11.00% and a return on equity of 29.61%. The company's revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS.

Argan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 23rd will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. Argan's dividend payout ratio is presently 21.04%.

Insider Buying and Selling

In related news, Director Cynthia Flanders sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $220.47, for a total value of $3,307,050.00. Following the completion of the sale, the director owned 33,428 shares in the company, valued at $7,369,871.16. This represents a 30.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter W. Getsinger sold 3,456 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $212.01, for a total transaction of $732,706.56. Following the sale, the director owned 14,895 shares of the company's stock, valued at approximately $3,157,888.95. This represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,404 shares of company stock valued at $18,221,387 over the last ninety days. Company insiders own 6.69% of the company's stock.

Institutional Investors Weigh In On Argan

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC acquired a new stake in Argan in the fourth quarter valued at $32,000. Larson Financial Group LLC boosted its holdings in Argan by 2,987.5% during the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company's stock worth $32,000 after buying an additional 239 shares in the last quarter. McIlrath & Eck LLC grew its position in Argan by 419.4% during the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock worth $51,000 after buying an additional 302 shares during the period. Federated Hermes Inc. increased its holdings in Argan by 1,123.5% in the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock valued at $57,000 after buying an additional 382 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Argan during the 1st quarter valued at approximately $109,000. 79.43% of the stock is owned by institutional investors and hedge funds.

About Argan

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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