Argan, Inc. (AGX) To Go Ex-Dividend on October 23rd

Argan, Inc. (NYSE:AGX) declared a quarterly dividend on Tuesday, September 17th, Zacks reports. Investors of record on Wednesday, October 23rd will be given a dividend of 0.375 per share by the construction company on Thursday, October 31st. This represents a $1.50 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, October 23rd. This is a positive change from Argan’s previous quarterly dividend of $0.30.

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 29.6% indicating that its dividend is sufficiently covered by earnings.

Argan Stock Down 0.2 %

NYSE AGX opened at $128.79 on Monday. The company has a 50-day simple moving average of $91.88 and a two-hundred day simple moving average of $77.01. Argan has a 12-month low of $39.74 and a 12-month high of $135.85. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 45.83 and a beta of 0.53.

Argan (NYSE:AGX) last issued its earnings results on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.34. The company had revenue of $227.02 million during the quarter, compared to analysts’ expectations of $191.05 million. Argan had a return on equity of 14.80% and a net margin of 6.11%. The firm’s quarterly revenue was up 60.6% compared to the same quarter last year.

Insider Activity

In related news, CEO David Hibbert Watson sold 15,134 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 44,348 shares in the company, valued at $3,449,830.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Argan news, Chairman William F. Griffin, Jr. sold 13,115 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $79.66, for a total transaction of $1,044,740.90. Following the completion of the transaction, the chairman now owns 157,604 shares of the company’s stock, valued at $12,554,734.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Hibbert Watson sold 15,134 shares of the stock in a transaction that occurred on 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,539 shares of company stock valued at $4,820,475. 11.85% of the stock is currently owned by company insiders.

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.