Argan, Inc. Declares Quarterly Dividend of $0.25 (NYSE:AGX)

Argan, Inc. (NYSE:AGXGet Rating) announced a quarterly dividend on Tuesday, June 21st, Zacks reports. Stockholders of record on Thursday, July 21st will be given a dividend of 0.25 per share by the construction company on Friday, July 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Wednesday, July 20th.

Argan has a dividend payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings.

AGX opened at $38.17 on Thursday. The company’s 50 day moving average is $38.05 and its 200-day moving average is $38.72. Argan has a 1-year low of $35.42 and a 1-year high of $49.60. The company has a market cap of $542.01 million, a P/E ratio of 17.12 and a beta of 0.54.

Argan (NYSE:AGXGet Rating) last posted its quarterly earnings results on Wednesday, April 13th. The construction company reported $0.64 earnings per share for the quarter. The company had revenue of $125.57 million for the quarter. Argan had a net margin of 7.23% and a return on equity of 13.01%.

In other Argan news, Director John Ronald Jr. Jeffrey purchased 1,000 shares of Argan stock in a transaction that occurred on Friday, May 6th. The stock was acquired at an average price of $36.70 per share, with a total value of $36,700.00. Following the transaction, the director now owns 8,000 shares in the company, valued at approximately $293,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pinnacle Holdings LLC boosted its holdings in Argan by 1.3% during the 1st quarter. Pinnacle Holdings LLC now owns 25,159 shares of the construction company’s stock worth $1,021,000 after acquiring an additional 333 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Argan by 4.1% during the 1st quarter. Panagora Asset Management Inc. now owns 41,946 shares of the construction company’s stock worth $1,703,000 after acquiring an additional 1,638 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in Argan during the 1st quarter worth $109,000. MetLife Investment Management LLC boosted its holdings in shares of Argan by 45.5% in the 1st quarter. MetLife Investment Management LLC now owns 8,933 shares of the construction company’s stock worth $363,000 after buying an additional 2,793 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Argan by 11.5% in the 1st quarter. Bank of America Corp DE now owns 27,889 shares of the construction company’s stock worth $1,131,000 after buying an additional 2,870 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

AGX has been the subject of several analyst reports. TheStreet upgraded shares of Argan from a “c” rating to a “b-” rating in a report on Friday, June 17th. StockNews.com lowered shares of Argan from a “buy” rating to a “hold” rating in a report on Monday, June 13th.

About Argan (Get Rating)

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, project development, technical, and consulting services to the power generation and renewable energy markets. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.

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Dividend History for Argan (NYSE:AGX)

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