CWA Asset Management Group LLC Sells 5,549 Shares of Argan, Inc. (NYSE:AGX)

CWA Asset Management Group LLC lowered its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 33.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,114 shares of the construction company's stock after selling 5,549 shares during the quarter. CWA Asset Management Group LLC owned 0.08% of Argan worth $1,458,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AGX. Cardinal Capital Management lifted its holdings in shares of Argan by 0.4% in the first quarter. Cardinal Capital Management now owns 31,086 shares of the construction company's stock worth $4,078,000 after buying an additional 111 shares in the last quarter. Tcfg Wealth Management LLC purchased a new position in shares of Argan in the first quarter worth $415,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Argan by 26.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,977 shares of the construction company's stock worth $522,000 after buying an additional 839 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Argan by 362.2% in the first quarter. SG Americas Securities LLC now owns 4,969 shares of the construction company's stock worth $652,000 after buying an additional 3,894 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of Argan by 11.5% in the first quarter. Pallas Capital Advisors LLC now owns 2,044 shares of the construction company's stock worth $268,000 after buying an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

Argan Price Performance

Shares of AGX stock traded up $5.00 during mid-day trading on Monday, hitting $208.36. The company had a trading volume of 322,922 shares, compared to its average volume of 345,496. The stock's 50 day moving average price is $184.75 and its 200-day moving average price is $155.75. Argan, Inc. has a 52-week low of $63.53 and a 52-week high of $246.60. The company has a market capitalization of $2.84 billion, a P/E ratio of 29.22 and a beta of 0.55.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.51. Argan had a net margin of 11.00% and a return on equity of 29.61%. The company had revenue of $193.66 million for the quarter, compared to analysts' expectations of $193.75 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. Argan's quarterly revenue was up 22.8% on a year-over-year basis.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 23rd will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.72%. The ex-dividend date is Wednesday, July 23rd. Argan's dividend payout ratio is presently 21.04%.

Insider Buying and Selling

In other Argan news, CFO Richard H. Deily sold 1,565 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $152.32, for a total transaction of $238,380.80. Following the transaction, the chief financial officer now owns 7,802 shares in the company, valued at $1,188,400.64. The trade was a 16.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cynthia Flanders sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $220.47, for a total transaction of $3,307,050.00. Following the transaction, the director now owns 33,428 shares in the company, valued at $7,369,871.16. This trade represents a 30.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,585 shares of company stock worth $15,973,833. Insiders own 6.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AGX shares. Kepler Capital Markets downgraded shares of Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Lake Street Capital boosted their target price on shares of Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a report on Thursday, June 5th.

About Argan

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.