Argan Inc. (NYSE:AGX) announced an annual dividend on Friday, September 16th. Shareholders of record on Tuesday, October 18th will be paid a dividend of 0.70 per share on Friday, October 28th. This represents a yield of 1.27%. The ex-dividend date of this dividend is Friday, October 14th.
Shares of Argan (NYSE:AGX) opened at 57.37 on Friday. Argan has a 52 week low of $28.03 and a 52 week high of $60.09. The firm has a 50-day moving average of $53.46 and a 200 day moving average of $42.64. The stock has a market cap of $862.39 million, a PE ratio of 17.63 and a beta of 1.29.
Argan (NYSE:AGX) last released its quarterly earnings data on Tuesday, September 6th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.50. The firm had revenue of $162.50 million for the quarter. Argan had a net margin of 9.45% and a return on equity of 21.27%. On average, equities analysts forecast that Argan will post $3.62 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a research note on Thursday, September 8th.
In related news, Director William F. Leimkuhler sold 5,000 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $59.12, for a total transaction of $295,600.00. Following the sale, the director now owns 25,000 shares in the company, valued at $1,478,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Richard H. Deily sold 7,000 shares of the firm’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $46.78, for a total transaction of $327,460.00. Following the sale, the vice president now owns 7,000 shares in the company, valued at approximately $327,460. The disclosure for this sale can be found here. Corporate insiders own 9.50% of the company’s stock.
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.
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