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

Argan, Inc. (NYSE:AGX - Get Free Report) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 602,300 shares, an increase of 5.1% from the December 31st total of 573,000 shares. Currently, 4.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 317,200 shares, the short-interest ratio is currently 1.9 days.

Argan Price Performance

AGX stock traded up $19.25 during trading hours on Thursday, reaching $162.24. 925,282 shares of the stock were exchanged, compared to its average volume of 541,691. The firm's 50-day moving average is $150.45 and its 200-day moving average is $120.53. Argan has a 12 month low of $44.47 and a 12 month high of $191.46. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 33.94 and a beta of 0.56.

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

Argan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd were issued a $0.375 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.92%. Argan's dividend payout ratio (DPR) is presently 31.38%.

Insider Transactions at Argan

In related news, Director Peter W. Getsinger sold 800 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now owns 19,177 shares in the company, valued at $2,977,037.48. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Hibbert Watson sold 10,000 shares of the company's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $146.05, for a total value of $1,460,500.00. Following the transaction, the chief executive officer now directly owns 51,291 shares in the company, valued at $7,491,050.55. This trade represents a 16.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,185 shares of company stock valued at $3,105,359. Corporate insiders own 11.85% of the company's stock.

Institutional Trading of Argan

Institutional investors have recently made changes to their positions in the business. Spire Wealth Management acquired a new stake in Argan in the 4th quarter valued at $26,000. Global Retirement Partners LLC acquired a new stake in shares of Argan in the fourth quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Argan during the second quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Argan during the third quarter valued at approximately $43,000. Finally, Copeland Capital Management LLC acquired a new position in Argan during the third quarter valued at approximately $56,000. Institutional investors own 79.43% of the company's stock.

Analyst Upgrades and Downgrades

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

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.