Argan (NYSE:AGX) sets new 12-month high at $62.19

Argan, Inc. (NYSE:AGX – Get a Free Report) hit a new 52-week high on Friday. The stock traded as high as $62.19 and last traded at $61.40, with a volume of 32226 shares traded. The stock previously closed at $60.69.

Wall Street analysts predict growth

Several analysts have commented on the company. Lake Street Capital raised their price target on Argan from $61.00 to $70.00 and gave the company a “buy” rating in a report on Friday, April 12. StockNews.com raised shares of Argan from a “buy” rating to a “strong buy” rating in a report on Monday, April 15.

Get our latest analysis on AGX

Argan is trading 2.0% higher

The company has a market cap of $819.82 million, a price-to-earnings ratio of 25.91 and a beta of 0.49. The company has a 50-day moving average of $50.04 and a 200-day moving average of $47.15.

Argan (NYSE:AGX – Get Free Report) last released its quarterly earnings data on Thursday, April 11. The construction company reported $0.89 earnings per share for the quarter, topping analyst consensus estimates of $0.75 by $0.14. The company had revenue of $164.55 million for the quarter, compared to the consensus estimate of $162.05 million. Argan had a return on equity of 11.37% and a net margin of 5.64%. The company’s quarterly revenue increased 38.5% compared to the same quarter last year. During the same period last year, the company posted earnings per share ($0.46).

Argan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30. Shareholders of record on Monday, April 22 will receive a dividend of $0.30 per share. The ex-dividend date is Friday, April 19. This represents a dividend of $1.20 annually and a yield of 1.94%. Argan’s dividend payout ratio (DPR) is 50.21%.

Insider transactions at Argan

In related news, Chairman William F. Griffin Jr. sold. on Friday, April 12, 15,000 Argan shares in a transaction. The shares sold at an average price of $59.99, for a total transaction of $899,850.00. Following the transaction, the Chairman now owns 14,150 shares of the company’s stock, valued at approximately $848,858.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Argan news, CFO Richard H. Deily sold 6,256 shares of stock in a transaction that occurred on Friday, April 19. The shares sold at an average price of $61.15, for a total value of $382,554.40. Following the completion of the sale, the chief financial officer now owns 8,185 shares of the company’s stock, valued at $500,512.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also selling was Chairman William F. Griffin Jr. 15,000 shares of Argan in a transaction that took place on Friday, April 12. The shares sold at an average price of $59.99, for a total transaction of $899,850.00. Following the sale, the chairman now owns 14,150 shares in the company, valued at approximately $848,858.50. The explanation of this sale can be found here. Insiders have sold 34,399 company shares worth $2,073,219 in the last 90 days. Corporate insiders own 11.53% of the company’s shares.

Institutional investors are considering Argan

A number of major investors have recently increased or decreased their stakes in AGX. Cardinal Capital Management strengthened its position in Argan by 1.0% in the fourth quarter. Cardinal Capital Management now owns 22,904 shares of the construction company’s stock valued at $1,072,000 after purchasing an additional 237 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Argan by 3.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 8,904 shares of the construction company’s stock worth $417,000 after acquiring an additional 282 shares in the last quarter. Legal & General Group Plc increased its stake in Argan shares by 4.3% in the second quarter. Legal & General Group Plc now owns 6,903 shares of the construction company’s stock worth $258,000 after acquiring an additional 287 shares in the last quarter. Pinnacle Holdings LLC increased its stake in Argan by 1.3% in the first quarter. Pinnacle Holdings LLC now owns 25,159 shares of the construction company’s stock valued at $1,021,000 after purchasing an additional 333 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Argan by 1.8% in the third quarter. Rhumbline Advisers now owns 22,978 shares of the construction company’s stock valued at $1,046,000 after purchasing an additional 417 shares in the last quarter. 79.43% of the shares are held by institutional investors and hedge funds.

About Argan

(Get a free report)

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical and consulting services to the power generation market. The company operates through the Power Industry Services, Industrial Fabrication and Field Services and Telecommunications Infrastructure Services segments.

Receive daily news and reviews for Argan – Enter your email address below to receive a daily summary of the latest news and analyst ratings for Argan and related companies with MarketBeat.com’s FREE daily email newsletter.