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

Argan, Inc. (NYSE:AGX) 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 dividend on an annualized basis 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 by an average of 5.7% annually over the last three years. Argan has a dividend payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings.

Argan Stock Up 0.4 %

Shares of Argan stock opened at $129.30 on Tuesday. The company has a market cap of $1.73 billion, a P/E ratio of 46.01 and a beta of 0.53. The firm’s 50 day moving average price is $93.08 and its 200-day moving average price is $77.56. Argan has a 52-week low of $39.74 and a 52-week high of $135.85.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.34. The business had revenue of $227.02 million for 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%. Argan’s 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 firm’s 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 sale, the chief executive officer now owns 44,348 shares of the company’s stock, valued at approximately $3,449,830.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Argan news, CEO David Hibbert Watson sold 15,134 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 44,348 shares in the company, valued at approximately $3,449,830.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter W. Getsinger sold 1,405 shares of Argan stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $78.36, for a total transaction of $110,095.80. Following the sale, the director now owns 13,000 shares of the company’s stock, valued at $1,018,680. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,242 shares of company stock valued at $6,737,519 in the last ninety days. Corporate insiders own 11.85% 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.