Key Points
- Director William Leimkuhler sold 200 shares of Argan on Dec. 23 at an average price of $337.47 for $67,494, leaving him with 900 shares — an 18.18% reduction in his stake (SEC filing disclosed).
- Argan beat earnings expectations for the quarter with $2.17 EPS versus a $1.82 estimate, while revenue was $251.15 million (down 2.3% YoY); the company reported a 31.38% ROE and a 13.11% net margin.
- Argan announced a $0.50 quarterly dividend (annualized $2.00, yield ~0.6%, ex-dividend Jan. 22) and currently carries an average analyst rating of "Moderate Buy" with a $355.20 target; market cap is about $4.45 billion and PE is 37.76.
Argan, Inc. (NYSE:AGX - Get Free Report) Director William Leimkuhler sold 200 shares of the firm's stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $337.47, for a total value of $67,494.00. Following the transaction, the director owned 900 shares in the company, valued at approximately $303,723. This trade represents a 18.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Argan Stock Performance
AGX opened at $320.58 on Tuesday. The company has a market cap of $4.45 billion, a PE ratio of 37.76 and a beta of 0.60. The stock has a 50-day moving average of $329.51 and a 200-day moving average of $268.06. Argan, Inc. has a 52-week low of $101.02 and a 52-week high of $399.30.
Argan (NYSE:AGX - Get Free Report) last posted its earnings results on Thursday, December 4th. The construction company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.35. Argan had a return on equity of 31.38% and a net margin of 13.11%.The firm had revenue of $251.15 million during the quarter, compared to analyst estimates of $251.50 million. During the same period in the previous year, the company earned $2.00 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis.
Argan Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 22nd will be paid a $0.50 dividend. The ex-dividend date is Thursday, January 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. Argan's dividend payout ratio (DPR) is presently 23.56%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on AGX shares. Zacks Research upgraded shares of Argan from a "hold" rating to a "strong-buy" rating in a report on Thursday, December 11th. Glj Research upgraded Argan from a "hold" rating to a "buy" rating and increased their target price for the company from $251.00 to $369.00 in a research note on Monday, November 10th. UBS Group set a $315.00 price target on Argan in a research report on Monday, October 13th. Wall Street Zen upgraded Argan from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Finally, The Goldman Sachs Group began coverage on shares of Argan in a research note on Tuesday, November 11th. They issued a "buy" rating and a $397.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $355.20.
Check Out Our Latest Analysis on Argan
Institutional Trading of Argan
Hedge funds have recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Argan during the third quarter valued at approximately $25,000. Danske Bank A S acquired a new stake in Argan during the third quarter worth $27,000. Accredited Wealth Management LLC bought a new stake in Argan in the 3rd quarter valued at $32,000. National Bank of Canada FI raised its stake in shares of Argan by 26.7% in the 3rd quarter. National Bank of Canada FI now owns 147 shares of the construction company's stock valued at $40,000 after buying an additional 31 shares in the last quarter. Finally, Palisade Asset Management LLC bought a new position in shares of Argan during the 3rd quarter worth about $41,000. Institutional investors own 79.43% of the company's stock.
About Argan
(
Get Free Report)
Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.
The company's principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.
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