Argan, Inc. (AGX) To Go Ex-Dividend on October 19th

Argan, Inc. (NYSE:AGX) announced an annual dividend on Friday, September 15th, Wall Street Journal reports. Shareholders of record on Friday, October 20th will be given a dividend of 1.00 per share by the construction company on Tuesday, October 31st. This represents a dividend yield of 1.63%. The ex-dividend date is Thursday, October 19th. This is a boost from Argan’s previous annual dividend of $0.70.

Argan has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings.

Shares of Argan (NYSE AGX) opened at 66.75 on Friday. Argan has a 52-week low of $54.00 and a 52-week high of $76.70. The firm has a market cap of $1.04 billion, a P/E ratio of 12.30 and a beta of 0.92. The company has a 50 day moving average price of $64.21 and a 200-day moving average price of $63.99.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, September 7th. The construction company reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.69. The company had revenue of $259.80 million for the quarter, compared to analysts’ expectations of $217.75 million. Argan had a net margin of 9.88% and a return on equity of 28.23%. The business’s revenue was up 59.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. On average, analysts expect that Argan will post $4.82 earnings per share for the current fiscal year.

AGX has been the topic of several recent research reports. BidaskClub raised shares of Argan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Sidoti initiated coverage on shares of Argan in a research report on Wednesday, June 28th. They issued a “neutral” rating on the stock.

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In other Argan news, Director John Ronald Jr. Jeffrey purchased 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were acquired at an average price of $62.49 per share, with a total value of $93,735.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 9.50% of the stock is currently owned by company insiders.

About Argan

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.

Dividend History for Argan (NYSE:AGX)

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