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Tcfg Wealth Management LLC Makes New Investment in Argan, Inc. (NYSE:AGX)

Argan logo with Construction background

Tcfg Wealth Management LLC acquired a new position in Argan, Inc. (NYSE:AGX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,165 shares of the construction company's stock, valued at approximately $415,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. City Center Advisors LLC purchased a new stake in shares of Argan during the first quarter worth about $223,000. American Century Companies Inc. lifted its holdings in shares of Argan by 18.1% in the 4th quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock valued at $65,869,000 after acquiring an additional 73,654 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Argan by 28.5% in the 4th quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock worth $2,400,000 after purchasing an additional 3,880 shares during the period. GAMMA Investing LLC boosted its stake in Argan by 11,180.0% during the first quarter. GAMMA Investing LLC now owns 5,640 shares of the construction company's stock worth $7,400,000 after buying an additional 5,590 shares during the period. Finally, Intech Investment Management LLC grew its holdings in Argan by 95.7% during the 4th quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock valued at $897,000 after purchasing an additional 3,199 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

Argan Trading Down 3.1%

Shares of AGX traded down $6.61 during midday trading on Wednesday, hitting $206.21. 381,302 shares of the company's stock traded hands, compared to its average volume of 342,011. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 28.92 and a beta of 0.55. The firm's fifty day moving average is $181.00 and its 200-day moving average is $154.59. Argan, Inc. has a 1 year low of $63.53 and a 1 year high of $246.60.

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

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 23rd will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.73%. Argan's payout ratio is currently 21.04%.

Insiders Place Their Bets

In related news, Director James W. Quinn sold 40,000 shares of Argan stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $207.92, for a total value of $8,316,800.00. Following the completion of the transaction, the director now owns 16,557 shares in the company, valued at $3,442,531.44. The trade was a 70.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard H. Deily sold 1,565 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $152.32, for a total value 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. This trade represents a 16.71% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,585 shares of company stock valued at $12,666,783. Company insiders own 6.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AGX shares. Kepler Capital Markets lowered Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Lake Street Capital upped their target price on Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a report on Thursday, June 5th.

Read Our Latest Research Report on AGX

Argan Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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