Argan, Inc. (NYSE:AGX) Announces Dividend Increase – $0.38 Per Share

by · The Cerbat Gem

Argan, Inc. (NYSE:AGX – Get Free Report) declared a quarterly dividend on Tuesday, September 17th, Zacks reports. Shareholders of record on Wednesday, October 23rd will be paid a dividend of 0.375 per share by the construction company on Thursday, October 31st. This represents a $1.50 annualized dividend and a yield of 1.16%. The ex-dividend date is Wednesday, October 23rd. This is a positive change from Argan’s previous quarterly dividend of $0.30.

Argan has decreased its dividend by an average of 5.7% per year over the last three years. Argan has a payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings.

Argan Stock Performance

Shares of AGX opened at $128.79 on Monday. Argan has a 52-week low of $39.74 and a 52-week high of $135.85. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 45.83 and a beta of 0.53. The business’s fifty day moving average is $91.88 and its 200-day moving average is $77.01.

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

Insider Activity at Argan

In other Argan news, CEO David Hibbert Watson sold 15,134 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $77.79, for a total transaction of $1,177,273.86. Following the sale, the chief executive officer now owns 44,348 shares of the company’s stock, valued at approximately $3,449,830.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Argan news, CEO David Hibbert Watson sold 15,134 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $77.79, for a total value of $1,177,273.86. Following the completion of the transaction, the chief executive officer now directly owns 44,348 shares in the company, valued at approximately $3,449,830.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman William F. Griffin, Jr. sold 1,885 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $78.31, for a total value of $147,614.35. Following the sale, the chairman now owns 175,719 shares in the company, valued at approximately $13,760,554.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,539 shares of company stock valued at $4,820,475 in the last quarter. Insiders own 11.85% of the company’s stock.

Argan Company Profile

(Get Free Report)

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.

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