Argan, Inc. (NYSE:AGX) Short Interest Update

Argan, Inc. (NYSE:AGX - Get Free Report) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 573,000 shares, a growth of 22.1% from the November 30th total of 469,200 shares. Based on an average daily volume of 309,300 shares, the days-to-cover ratio is currently 1.9 days. Approximately 4.4% of the company's shares are sold short.

Argan Price Performance

NYSE AGX traded down $1.88 during trading on Tuesday, reaching $137.04. 272,680 shares of the company's stock traded hands, compared to its average volume of 183,896. Argan has a 12-month low of $43.44 and a 12-month high of $165.33. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 28.67 and a beta of 0.53. The company's 50 day simple moving average is $144.83 and its two-hundred day simple moving average is $106.08.

Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.74. The company had revenue of $257.00 million for the quarter, compared to analyst estimates of $225.60 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm's revenue was up 56.9% on a year-over-year basis.

Argan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 23rd will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, January 23rd. Argan's dividend payout ratio (DPR) is currently 31.38%.

Insider Buying and Selling

In other Argan news, Director Rainer H. Bosselmann sold 10,105 shares of the company's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $130.10, for a total value of $1,314,660.50. Following the transaction, the director now owns 219,879 shares of the company's stock, valued at $28,606,257.90. This represents a 4.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Hibbert Watson sold 10,000 shares of Argan stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $146.05, for a total value of $1,460,500.00. Following the sale, the chief executive officer now owns 51,291 shares of the company's stock, valued at approximately $7,491,050.55. This trade represents a 16.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,703 shares of company stock valued at $3,377,544 in the last ninety days. 11.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Argan

A number of institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Argan in the third quarter valued at approximately $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Argan in the 2nd quarter worth $41,000. Copeland Capital Management LLC purchased a new position in Argan during the 3rd quarter worth $56,000. nVerses Capital LLC acquired a new position in Argan during the 3rd quarter valued at about $91,000. Finally, Point72 DIFC Ltd purchased a new stake in Argan in the second quarter valued at about $70,000. Institutional investors own 79.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. CJS Securities reaffirmed a "market perform" rating and set a $150.00 target price on shares of Argan in a research report on Friday, December 6th. Lake Street Capital downgraded Argan from a "buy" rating to a "hold" rating and raised their price objective for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd. Finally, StockNews.com cut Argan from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th.

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.