Key Points
- Director James Quinn sold 1,000 Argan shares on December 10 at an average price of $328.04, a transaction totaling $328,040 disclosed in an SEC Form 4.
- Quarterly results beat EPS: Argan reported $2.17 EPS versus a $1.82 estimate with revenue of $251.15M (roughly flat year-over-year); the stock trades near $330 with a market cap of $4.58B and a PE of about 38.9.
- Dividend announced: Argan declared a quarterly dividend of $0.50 per share ($2.00 annualized, ~0.6% yield), with an ex-dividend date and record date on January 22 and payment on January 30.
Argan, Inc. (NYSE:AGX - Get Free Report) Director James Quinn sold 1,000 shares of Argan stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $328.04, for a total value of $328,040.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Argan Trading Up 1.4%
Shares of NYSE:AGX opened at $330.43 on Friday. Argan, Inc. has a twelve month low of $101.02 and a twelve month high of $399.30. The company's 50 day moving average is $319.61 and its 200 day moving average is $258.53. The company has a market cap of $4.58 billion, a PE ratio of 38.92 and a beta of 0.60.
Argan (NYSE:AGX - Get Free Report) last released its quarterly earnings data on Thursday, December 4th. The construction company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.82 by $0.35. The business had revenue of $251.15 million for the quarter, compared to the consensus estimate of $251.50 million. Argan had a net margin of 13.11% and a return on equity of 31.38%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 EPS.
Argan Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 22nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, January 22nd. Argan's dividend payout ratio (DPR) is currently 23.56%.
Hedge Funds Weigh In On Argan
A number of large investors have recently added to or reduced their stakes in AGX. Value Aligned Research Advisors LLC lifted its holdings in Argan by 104.2% during the third quarter. Value Aligned Research Advisors LLC now owns 225,750 shares of the construction company's stock valued at $60,964,000 after purchasing an additional 115,188 shares in the last quarter. Cambria Investment Management L.P. increased its stake in shares of Argan by 25.0% during the third quarter. Cambria Investment Management L.P. now owns 4,413 shares of the construction company's stock worth $1,192,000 after purchasing an additional 882 shares in the last quarter. Strategic Advocates LLC raised its position in shares of Argan by 4.8% during the 3rd quarter. Strategic Advocates LLC now owns 1,350 shares of the construction company's stock worth $365,000 after purchasing an additional 62 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in Argan in the 3rd quarter valued at about $382,000. Finally, Ariadne Wealth Management LP acquired a new stake in Argan in the 3rd quarter worth about $208,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Zacks Research cut Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 12th. Lake Street Capital downgraded Argan from a "buy" rating to a "hold" rating and boosted their price target for the company from $260.00 to $325.00 in a report on Friday, December 5th. Wall Street Zen upgraded Argan from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Argan in a report on Wednesday, October 8th. Finally, UBS Group set a $315.00 target price on shares of Argan in a research note on Monday, October 13th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $355.20.
View Our Latest Report on Argan
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
