Argan, Inc. (NYSE:AGX – Get Rating) declared a quarterly dividend on Tuesday, June 21st, Zacks reports. Shareholders of record on Thursday, July 21st will be given a dividend of 0.25 per share by the construction company on Friday, July 29th. This represents a $1.00 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Wednesday, July 20th.
Argan has a payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings.
NYSE AGX opened at $38.17 on Thursday. The company’s 50-day moving average price is $38.05 and its 200-day moving average price is $38.72. The stock has a market cap of $542.01 million, a PE ratio of 17.12 and a beta of 0.54. Argan has a 12 month low of $35.42 and a 12 month high of $49.60.
A number of research analysts have recently commented on AGX shares. StockNews.com cut shares of Argan from a “buy” rating to a “hold” rating in a report on Monday, June 13th. TheStreet upgraded shares of Argan from a “c” rating to a “b-” rating in a report on Friday, June 17th.
In other Argan news, Director John Ronald Jr. Jeffrey acquired 1,000 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were purchased at an average cost of $36.70 per share, for a total transaction of $36,700.00. Following the completion of the purchase, the director now owns 8,000 shares in the company, valued at $293,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in shares of Argan by 18.2% during the first quarter. First Trust Advisors LP now owns 123,059 shares of the construction company’s stock valued at $4,995,000 after purchasing an additional 18,939 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Argan by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 120,094 shares of the construction company’s stock valued at $4,874,000 after acquiring an additional 3,795 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Argan by 4.1% in the first quarter. Panagora Asset Management Inc. now owns 41,946 shares of the construction company’s stock valued at $1,703,000 after acquiring an additional 1,638 shares in the last quarter. Aviva PLC acquired a new stake in Argan in the first quarter valued at approximately $1,501,000. Finally, Invesco Ltd. boosted its stake in Argan by 20.9% in the first quarter. Invesco Ltd. now owns 36,686 shares of the construction company’s stock valued at $1,489,000 after acquiring an additional 6,349 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.
About Argan (Get Rating)
Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, project development, technical, and consulting services to the power generation and renewable energy markets. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.
- Get a free copy of the StockNews.com research report on Argan (AGX)
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