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MarketScreener Homepage  >  Equities  >  Nyse  >  Argan, Inc.    AGX

ARGAN, INC.

(AGX)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe BZX - 12/02 11:59:07 am
47.575 USD   +0.39%
10/21ARGAN, INC. : Ex-dividend day for
FA
09/30ARGAN INC : Other Events (form 8-K)
AQ
09/10ARGAN : Reports second quarter results
AQ
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ARGAN INC : Other Events, Financial Statements and Exhibits (form 8-K)

06/24/2020 | 05:16pm EST

Item 8.01. Other Events.

On June 23, 2020, the Board of Directors of Argan, Inc. ("Argan" or the "Company") authorized the repurchase of up to $25.0 million of the Company's issued and outstanding common stock. The Board of Directors also declared a special cash dividend of $1.00 per share of common stock in addition to the regular quarterly cash dividend in the amount of $0.25 per share of common stock, for a total declared cash dividend of $1.25 per share of common stock, payable July 31, 2020 to stockholders of record at the close of business on July 23, 2020.

The Company may repurchase up to $25.0 million of the Company's issued and outstanding common stock through June 2022. The repurchases may occur in one or more open market transactions, in transactions structured through investment banking institutions, in privately-negotiated transactions, by direct purchases of common stock or through a combination of the foregoing transaction types, in compliance with the applicable rules and regulations of the Securities and Exchange Commission. The timing of the repurchases and the amount of stock repurchased in each transaction is subject to the Company's sole discretion and will depend upon market and business conditions, applicable legal and credit requirements and other corporate considerations.

On June 20, 2020, the Company's wholly owned subsidiary, Atlantic Projects Company ("APC"), entered into a second amendment to its subcontract, effective June 1, 2020, to complete the mechanical installation of the boiler for the biomass-fired power plant under construction in Teesside, England (the "TeesREP Project"). APC's customer is the engineering, procurement and construction services contractor on the TeesREP Project. As previously disclosed, APC has recorded a substantial loss related to this subcontract. The second amendment, which includes various terms and conditions, represents a global settlement of past commercial differences with both parties making significant concessions, and converts the contract-type from fixed-price to time-and-materials for the remaining work.

A copy of Argan's press release announcing the share repurchase program, the special and regular cash dividends and the amendment of the TeesREP subcontract is attached to this report as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.




 (d) Exhibits




Exhibit No.   Description

   99.1         Press Release issued by Argan on June 24, 2020

© Edgar Online, source Glimpses

All news about ARGAN, INC.
10/21ARGAN, INC. : Ex-dividend day for
FA
09/30ARGAN INC : Other Events (form 8-K)
AQ
09/10ARGAN : Reports second quarter results
AQ
09/10ARGAN INC : Results of Operations and Financial Condition, Financial Statements ..
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09/09ARGAN : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS ..
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09/09ARGAN : Fiscal 2Q Earnings Snapshot
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09/09ARGAN, INC. : Reports Second Quarter Results
BU
07/22ARGAN, INC. : Ex-dividend day for
FA
06/24ARGAN INC : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
06/24ARGAN, INC. : Announces $25 Million Share Repurchase Program and Declares Specia..
BU
More news
Financials (USD)
Sales 2021 394 M - -
Net income 2021 16,9 M - -
Net Debt 2021 - - -
P/E ratio 2021 44,3x
Yield 2021 -
Capitalization 743 M 743 M -
Capi. / Sales 2021 1,88x
Capi. / Sales 2022 0,95x
Nbr of Employees 1 154
Free-Float 95,0%
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Technical analysis trends ARGAN, INC.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Average target price 62,00 $
Last Close Price 47,39 $
Spread / Highest target 35,0%
Spread / Average Target 30,8%
Spread / Lowest Target 26,6%
EPS Revisions
Managers
NameTitle
Rainer H. Bosselmann Chairman & Chief Executive Officer
David Hibbert Watson Chief Financial Officer, Secretary & Treasurer
William F. Leimkuhler Independent Director
Champ Mitchell Independent Director
James W. Quinn Lead Independent Director
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