Argan (NYSE:AGX) Shares Down 5.5% – What’s Next?

Argan, Inc. (NYSE:AGX)’s share price fell 5.5% on Tuesday . The company traded as low as $142.00 and last traded at $140.44. 76,114 shares were traded during mid-day trading, a decline of 85% from the average session volume of 491,562 shares. The stock had previously closed at $148.59.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AGX shares. CJS Securities reaffirmed a “market perform” rating and issued a $150.00 price target on shares of Argan in a report on Friday, December 6th. StockNews.com lowered Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and boosted their target price for the company from $85.00 to $150.00 in a research report on Tuesday, December 3rd.

Argan Stock Down 2.5 %

The business has a 50 day moving average price of $150.85 and a 200 day moving average price of $125.14. The stock has a market cap of $1.97 billion, a P/E ratio of 30.32 and a beta of 0.56.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.26 by $0.74. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $257.00 million for the quarter, compared to the consensus estimate of $225.60 million. The company’s revenue for the quarter was up 56.9% compared to the same quarter last year.

Argan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 23rd were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, January 23rd. Argan’s dividend payout ratio is presently 31.38%.

Insider Activity at Argan

In related news, CFO Richard H. Deily sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares of the company’s stock, valued at $1,405,050. This represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter W. Getsinger sold 800 shares of Argan stock in a transaction on Friday, January 10th. The shares were sold at an average price of $155.24, for a total value of $124,192.00. Following the sale, the director now directly owns 19,177 shares of the company’s stock, valued at approximately $2,977,037.48. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,185 shares of company stock worth $3,105,359 in the last 90 days. 11.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Argan

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC grew its holdings in Argan by 81.4% during the 3rd quarter. CWM LLC now owns 4,456 shares of the construction company’s stock worth $452,000 after acquiring an additional 1,999 shares in the last quarter. Creative Planning lifted its position in shares of Argan by 5.2% in the 3rd quarter. Creative Planning now owns 10,616 shares of the construction company’s stock worth $1,077,000 after purchasing an additional 521 shares during the period. nVerses Capital LLC bought a new position in shares of Argan during the third quarter valued at approximately $91,000. Allspring Global Investments Holdings LLC increased its holdings in Argan by 283.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 57,536 shares of the construction company’s stock valued at $5,836,000 after buying an additional 42,527 shares during the period. Finally, Copeland Capital Management LLC bought a new position in Argan in the third quarter worth approximately $56,000. 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.