Argan, Inc. (AGX) to Issue Annual Dividend of $1.00
Argan, Inc. (NYSE:AGX) declared an annual dividend on Friday, September 15th, Wall Street Journal reports. Shareholders of record on Friday, October 20th will be paid a dividend of 1.00 per share by the construction company on Tuesday, October 31st. This represents a yield of 1.63%. The ex-dividend date is Thursday, October 19th. This is an increase from Argan’s previous annual dividend of $0.70.
Shares of Argan (NYSE:AGX) traded up 1.49% on Friday, reaching $61.35. The company’s stock had a trading volume of 248,248 shares. The company’s 50 day moving average is $62.40 and its 200-day moving average is $64.31. Argan has a 1-year low of $53.87 and a 1-year high of $76.70. The stock has a market cap of $953.56 million, a PE ratio of 11.30 and a beta of 0.91.
Argan (NYSE:AGX) last posted its quarterly earnings results on Thursday, September 7th. The construction company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.69. The business had revenue of $259.80 million during the quarter, compared to the consensus estimate of $217.75 million. Argan had a net margin of 9.88% and a return on equity of 28.23%. The firm’s revenue for the quarter was up 59.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 earnings per share. On average, equities analysts predict that Argan will post $4.82 earnings per share for the current fiscal year.
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Several equities analysts recently issued reports on AGX shares. Lake Street Capital boosted their price target on shares of Argan from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, June 8th. BidaskClub upgraded shares of Argan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Sidoti started coverage on shares of Argan in a research report on Wednesday, June 28th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $75.00.
In related news, Director John Ronald Jr. Jeffrey purchased 1,000 shares of Argan stock in a transaction that occurred on Monday, June 26th. The shares were bought at an average price of $60.95 per share, for a total transaction of $60,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.50% of the stock is owned by insiders.
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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