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

Argan, Inc. (NYSE:AGX) declared a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Shareholders of record on Thursday, January 23rd will be given a dividend of 0.375 per share by the construction company on Friday, January 31st. This represents a $1.50 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, January 23rd.

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 28.0% meaning its dividend is sufficiently covered by earnings.

Argan Stock Down 0.9 %

Shares of Argan stock traded down $1.31 during midday trading on Friday, hitting $142.96. The company’s stock had a trading volume of 193,773 shares, compared to its average volume of 181,558. Argan has a 1-year low of $43.00 and a 1-year high of $165.33. The firm has a market capitalization of $1.94 billion, a P/E ratio of 29.96 and a beta of 0.53. The stock has a 50-day simple moving average of $138.76 and a 200-day simple moving average of $99.34.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.74. The firm had revenue of $257.00 million during the quarter, compared to analyst estimates of $225.60 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm’s revenue was up 56.9% compared to the same quarter last year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Argan

In other news, Director Cynthia Flanders sold 5,000 shares of Argan stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the transaction, the director now owns 17,332 shares of the company’s stock, valued at $1,670,631.48. This trade represents a 22.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rainer H. Bosselmann sold 10,105 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $130.10, for a total transaction of $1,314,660.50. Following the completion of the sale, the director now owns 219,879 shares of the company’s stock, valued at $28,606,257.90. The trade was a 4.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,703 shares of company stock worth $3,360,994 over the last ninety days. 11.85% of the stock is currently owned by insiders.

About Argan

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.