Argan (NYSE:AGX) Sets New 12-Month High – Time to Buy?

Argan, Inc. (NYSE:AGX)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $161.00 and last traded at $161.00, with a volume of 27603 shares. The stock had previously closed at $155.29.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Argan from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th.

Argan Trading Down 1.9 %

The business has a fifty day moving average of $111.96 and a 200-day moving average of $86.06. The company has a market cap of $2.08 billion, a PE ratio of 48.47 and a beta of 0.49.

Argan (NYSE:AGX) last announced its earnings results on Thursday, September 5th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. The company had revenue of $227.02 million during the quarter, compared to the consensus estimate of $191.05 million. Argan had a return on equity of 14.80% and a net margin of 6.11%. The company’s quarterly revenue was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $1.50 annualized dividend and a dividend yield of 0.97%. This is a boost from Argan’s previous quarterly dividend of $0.30. Argan’s payout ratio is currently 47.17%.

Insiders Place Their Bets

In other news, Director Rainer H. Bosselmann sold 4,598 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $131.01, for a total value of $602,383.98. Following the completion of the transaction, the director now owns 236,745 shares of the company’s stock, valued at approximately $31,015,962.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Rainer H. Bosselmann sold 4,598 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $131.01, for a total value of $602,383.98. Following the sale, the director now directly owns 236,745 shares of the company’s stock, valued at $31,015,962.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James W. Quinn sold 10,000 shares of Argan stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $89.68, for a total transaction of $896,800.00. Following the transaction, the director now directly owns 70,422 shares of the company’s stock, valued at approximately $6,315,444.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,703 shares of company stock worth $4,257,794 over the last three months. Company insiders own 11.85% of the company’s stock.

Institutional Inflows and Outflows

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

Argan Company Profile

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.