Argan, Inc. (NYSE:AGX) Sees Large Decrease in Short Interest

Argan, Inc. (NYSE:AGX - Get Free Report) was the recipient of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 641,500 shares, a drop of 12.5% from the January 31st total of 732,800 shares. Based on an average trading volume of 393,400 shares, the short-interest ratio is presently 1.6 days. Currently, 5.0% of the company's stock are sold short.

Insider Buying and Selling at Argan

In other Argan news, CFO Richard H. Deily sold 2,000 shares of the firm's 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 completion of the sale, the chief financial officer now owns 9,367 shares of the company's stock, valued at approximately $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 800 shares of the firm'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 sale, the director now directly owns 19,177 shares of the company's stock, valued at $2,977,037.48. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,185 shares of company stock valued at $3,105,359. Company insiders own 11.85% of the company's stock.

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Institutional Trading of Argan

Hedge funds have recently bought and sold shares of the business. Spire Wealth Management bought a new stake in Argan during the fourth quarter worth $26,000. Farther Finance Advisors LLC bought a new stake in Argan during the fourth quarter worth $32,000. Global Retirement Partners LLC bought a new stake in Argan during the fourth quarter worth $35,000. McIlrath & Eck LLC lifted its holdings in Argan by 419.4% during the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock worth $51,000 after acquiring an additional 302 shares during the period. Finally, Truvestments Capital LLC bought a new stake in Argan during the fourth quarter worth $57,000. 79.43% of the stock is currently owned by institutional investors.

Argan Trading Down 2.3 %

Shares of NYSE:AGX traded down $2.71 during mid-day trading on Friday, hitting $113.57. 474,148 shares of the company traded hands, compared to its average volume of 458,522. The stock has a market cap of $1.54 billion, a P/E ratio of 23.76 and a beta of 0.56. Argan has a 12-month low of $47.42 and a 12-month high of $191.46. The stock has a 50-day moving average price of $146.83 and a two-hundred day moving average price of $130.03.

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

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 23rd were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $1.50 dividend on an annualized basis and a yield of 1.32%. Argan's dividend payout ratio (DPR) is currently 31.38%.

Analyst Ratings Changes

Several research analysts recently issued reports on AGX shares. 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 cut Argan from a "buy" rating to a "hold" rating and lifted their target price for the company from $85.00 to $150.00 in a research report on Tuesday, December 3rd.

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.