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

Argan, Inc. (NYSE:AGX) announced a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Shareholders of record on Thursday, January 23rd will be paid 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 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% indicating that its dividend is sufficiently covered by earnings.

Argan Stock Performance

AGX opened at $142.96 on Friday. The company’s 50-day simple moving average is $139.45 and its two-hundred day simple moving average is $100.06. Argan has a 52-week low of $43.00 and a 52-week high of $165.33. The stock has a market capitalization of $1.94 billion, a P/E ratio of 29.91 and a beta of 0.53.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.74. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company had revenue of $257.00 million for the quarter, compared to the consensus estimate of $225.60 million. The company’s revenue for the quarter was up 56.9% on a year-over-year basis.

Insider Transactions at Argan

In related news, Director Rainer H. Bosselmann sold 10,105 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 219,879 shares in the company, valued at approximately $28,606,257.90. The trade was a 4.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William F. Leimkuhler sold 10,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $96.20, for a total transaction of $962,000.00. Following the completion of the sale, the director now directly owns 35,852 shares of the company’s stock, valued at $3,448,962.40. This represents a 21.81 % 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 in the last three months. Corporate insiders own 11.85% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd. StockNews.com downgraded Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, CJS Securities reiterated a “market perform” rating and issued a $150.00 price objective on shares of Argan in a research note on Friday, December 6th.

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.