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

Argan, Inc. (NYSE:AGXGet Rating) declared a quarterly dividend on Tuesday, April 12th, Wall Street Journal reports. Shareholders of record on Thursday, April 21st will be given a dividend of 0.25 per share by the construction company on Friday, April 29th. This represents a $1.00 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Wednesday, April 20th.

Argan has a payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings.

AGX stock opened at $36.90 on Tuesday. The stock has a market capitalization of $579.88 million, a P/E ratio of 15.38 and a beta of 0.52. Argan has a one year low of $36.47 and a one year high of $54.59. The business’s 50 day simple moving average is $39.44.

Several research analysts have recently issued reports on AGX shares. StockNews.com started coverage on shares of Argan in a report on Thursday, March 31st. They issued a “buy” rating on the stock. TheStreet upgraded shares of Argan from a “c” rating to a “b-” rating in a report on Wednesday, April 13th.

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in Argan by 274.4% in the fourth quarter. Barclays PLC now owns 22,825 shares of the construction company’s stock valued at $883,000 after acquiring an additional 16,728 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Argan by 2.1% in the fourth quarter. California State Teachers Retirement System now owns 21,436 shares of the construction company’s stock valued at $829,000 after acquiring an additional 436 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in Argan by 60.4% in the fourth quarter. State of Tennessee Treasury Department now owns 19,665 shares of the construction company’s stock valued at $761,000 after acquiring an additional 7,408 shares in the last quarter. Sei Investments Co. bought a new stake in Argan in the fourth quarter valued at $538,000. Finally, Deutsche Bank AG boosted its holdings in Argan by 5.0% in the fourth quarter. Deutsche Bank AG now owns 9,064 shares of the construction company’s stock valued at $351,000 after acquiring an additional 433 shares in the last quarter. Institutional investors and hedge funds own 85.76% of the company’s stock.

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.

Further Reading

Dividend History for Argan (NYSE:AGX)

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