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

Argan, Inc. (NYSE:AGX – Get Rating) announced a quarterly dividend on Tuesday, April 12th, Wall Street Journal reports. Investors of record on Thursday, April 21st will be paid a dividend of 0.25 per share by the construction company on Friday, April 29th. This represents a $1.00 annualized dividend and a yield of 2.51%. The ex-dividend date is Wednesday, April 20th.

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

Shares of AGX stock traded down $0.15 on Tuesday, reaching $39.81. 75,967 shares of the stock were exchanged, compared to its average volume of 94,425. The company’s 50 day moving average price is $39.45. The stock has a market cap of $625.61 million, a P/E ratio of 13.92 and a beta of 0.52. Argan has a twelve month low of $36.60 and a twelve month high of $55.03.

A number of large investors have recently made changes to their positions in the business. Morgan Stanley lifted its stake in Argan by 1,105.0% during the second quarter. Morgan Stanley now owns 65,527 shares of the construction company’s stock worth $3,132,000 after purchasing an additional 60,089 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Argan by 36.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 214,838 shares of the construction company’s stock worth $8,312,000 after purchasing an additional 57,564 shares during the period. BlackRock Inc. grew its position in Argan by 4.6% during the 4th quarter. BlackRock Inc. now owns 1,253,688 shares of the construction company’s stock worth $48,504,000 after purchasing an additional 55,272 shares in the last quarter. Norges Bank acquired a new stake in shares of Argan during the fourth quarter worth approximately $905,000. Finally, Barclays PLC raised its stake in shares of Argan by 274.4% during the 4th quarter. Barclays PLC now owns 22,825 shares of the construction company’s stock worth $883,000 after purchasing an additional 16,728 shares in the last quarter. Institutional investors own 85.76% of the company’s stock.

Several equities analysts recently issued reports on the company. StockNews.com initiated coverage on Argan in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. TheStreet downgraded shares of Argan from a “b-” rating to a “c” rating in a report on Tuesday, January 25th.

Argan Company Profile (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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