Argan, Inc. (NYSE:AGX) Announces Quarterly Dividend of $0.38

by · The Markets Daily

Argan, Inc. (NYSE:AGX – Get Free Report) announced a quarterly dividend on Tuesday, September 17th, Zacks reports. Investors of record on Wednesday, October 23rd will be given 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 boost from Argan’s previous quarterly dividend of $0.30.

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

Argan Price Performance

AGX stock opened at $128.79 on Monday. Argan has a fifty-two week low of $39.74 and a fifty-two week high of $135.85. The stock has a market capitalization 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 price is $91.88 and its two-hundred day moving average price is $77.01.

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

Insiders Place Their Bets

In other news, CEO David Hibbert Watson sold 15,134 shares of Argan stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $77.79, for a total value of $1,177,273.86. Following the completion of the sale, the chief executive officer now directly owns 44,348 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. In related news, Director William F. Leimkuhler sold 10,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $96.20, for a total value of $962,000.00. Following the completion of the transaction, the director now owns 35,852 shares of the company’s stock, valued at $3,448,962.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Hibbert Watson sold 15,134 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was 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 directly owns 44,348 shares of the company’s stock, valued at $3,449,830.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,539 shares of company stock worth $4,820,475 in the last quarter. Corporate insiders own 11.85% of the company’s stock.

About Argan

(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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