Argan said on April 12, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.25 per share.
Shares must be purchased before the ex-div date of April 19, 2023 to qualify for the dividend. Shareholders of record as of April 20, 2023 will receive the payment on April 28, 2023.
At the current share price of $39.42 / share, the stock's dividend yield is 2.54%. Looking back five years and taking a sample every week, the average dividend yield has been 2.43%, the lowest has been 1.83%, and the highest has been 3.14%. The standard deviation of yields is 0.27 (n=236).
The current dividend yield is 0.39 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.41. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 378 funds or institutions reporting positions in Argan. This is a decrease of 1 owner(s) or 0.26% in the last quarter. Average portfolio weight of all funds dedicated to AGX is 0.17%, a decrease of 0.89%. Total shares owned by institutions increased in the last three months by 0.09% to 34,683K shares. The put/call ratio of AGX is 3.02, indicating a bearish outlook.
Analyst Price Forecast Suggests 38.43% Upside
As of April 7, 2023, the average one-year price target for Argan is $54.57. The forecasts range from a low of $46.46 to a high of $64.05. The average price target represents an increase of 38.43% from its latest reported closing price of $39.42.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Argan is $590MM, an increase of 29.68%. The projected annual non-GAAP EPS is $2.96.
What are Other Shareholders Doing?
Covestor holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
DFSV - Dimensional US Small Cap Value ETF holds 2K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing an increase of 11.39%. The firm decreased its portfolio allocation in AGX by 29.06% over the last quarter.
Goldman Sachs Group holds 33K shares representing 0.25% ownership of the company. In it's prior filing, the firm reported owning 111K shares, representing a decrease of 233.01%. The firm decreased its portfolio allocation in AGX by 66.66% over the last quarter.
Wasatch Advisors holds 88K shares representing 0.65% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Sawtooth Solutions holds 6K shares representing 0.04% ownership of the company. No change in the last quarter.
Argan Background Information
(This description is provided by the company.)
Argan's primary business is providing a full range of services to the power industry, including the renewable energy sector. Argan's service offerings focus on the engineering, procurement and construction of natural gas-fired power plants, along with related commissioning, operations management, maintenance, project development and consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated fabrication, construction and industrial plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.