Argan Inc. Declares Annual Dividend of $0.70 (AGX)

Argan Inc. (NYSE:AGX) announced an annual dividend on Friday, September 16th. Stockholders of record on Tuesday, October 18th will be paid a dividend of 0.70 per share on Friday, October 28th. This represents a dividend yield of 1.27%. The ex-dividend date is Friday, October 14th.

Shares of Argan (NYSE:AGX) opened at 57.37 on Friday. The stock has a market cap of $862.39 million, a price-to-earnings ratio of 17.63 and a beta of 1.29. Argan has a 52 week low of $28.03 and a 52 week high of $60.09. The stock’s 50 day moving average is $53.46 and its 200 day moving average is $42.64.

Argan (NYSE:AGX) last announced its earnings results on Tuesday, September 6th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 year.

In related news, VP Richard H. Deily sold 7,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $327,460. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William F. Griffin, Jr. sold 33,689 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $51.58, for a total transaction of $1,737,678.62. The disclosure for this sale can be found here. Corporate insiders own 9.50% of the company’s stock.

Separately, Zacks Investment Research raised shares of Argan from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a research note on Thursday, September 8th.

Argan Company Profile

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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