Argan, Inc. (AGX) To Go Ex-Dividend on January 23rd

Argan, Inc. (NYSE:AGXGet Free Report) declared a quarterly dividend on Thursday, December 12th,Wall Street Journal reports. Stockholders of record on Thursday, January 23rd will be paid a dividend of 0.375 per share by the construction company on Friday, January 31st. This represents a $1.50 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, January 23rd.

Argan has increased its dividend payment by an average of 19.4% per year over the last three years. Argan has a payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings.

Argan Stock Up 1.3 %

Argan stock opened at $177.64 on Tuesday. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 37.16 and a beta of 0.56. Argan has a 52 week low of $43.44 and a 52 week high of $181.37. The business’s 50-day moving average price is $150.71 and its 200 day moving average price is $114.46.

Argan (NYSE:AGXGet Free Report) last issued its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.26 by $0.74. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $257.00 million for the quarter, compared to analyst estimates of $225.60 million. Argan’s revenue was up 56.9% on a year-over-year basis.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AGX. CJS Securities reaffirmed a “market perform” rating and issued a $150.00 price target on shares of Argan in a research note on Friday, December 6th. StockNews.com downgraded Argan from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd.

Read Our Latest Research Report on AGX

Insider Buying and Selling

In other Argan news, Director Peter W. Getsinger sold 800 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $155.24, for a total value of $124,192.00. Following the sale, the director now owns 19,177 shares of the company’s stock, valued at $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at approximately $1,405,050. This represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,185 shares of company stock valued at $3,105,359. 11.85% of the stock is currently owned by insiders.

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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Dividend History for Argan (NYSE:AGX)

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