Tcfg Wealth Management LLC Invests $415,000 in Argan, Inc. (NYSE:AGX)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AGX. Wealth Enhancement Advisory Services LLC lifted its stake in Argan by 26.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,977 shares of the construction company's stock valued at $522,000 after acquiring an additional 839 shares during the last quarter. SG Americas Securities LLC lifted its stake in Argan by 362.2% in the first quarter. SG Americas Securities LLC now owns 4,969 shares of the construction company's stock valued at $652,000 after acquiring an additional 3,894 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in Argan by 11.5% in the first quarter. Pallas Capital Advisors LLC now owns 2,044 shares of the construction company's stock valued at $268,000 after acquiring an additional 211 shares during the last quarter. City Center Advisors LLC acquired a new stake in Argan in the first quarter valued at approximately $223,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Argan by 46.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,882 shares of the construction company's stock worth $772,000 after buying an additional 1,868 shares during the last quarter. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Argan

In other news, CFO Richard H. Deily sold 1,565 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 7,802 shares in the company, valued at approximately $1,188,400.64. This represents a 16.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James W. Quinn sold 40,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $207.92, for a total transaction of $8,316,800.00. Following the completion of the transaction, the director now owns 16,557 shares of the company's stock, valued at approximately $3,442,531.44. This represents a 70.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,585 shares of company stock worth $12,666,783. Company insiders own 6.69% of the company's stock.

Wall Street Analysts Forecast Growth

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

Argan Stock Performance

Shares of Argan stock traded down $4.17 on Friday, reaching $217.95. The stock had a trading volume of 381,612 shares, compared to its average volume of 340,499. The business's 50-day moving average price is $177.76 and its two-hundred day moving average price is $153.76. Argan, Inc. has a fifty-two week low of $63.53 and a fifty-two week high of $246.60. The stock has a market cap of $2.97 billion, a P/E ratio of 45.60 and a beta of 0.55.

Argan (NYSE:AGX - Get Free Report) last released its earnings results on Wednesday, June 4th. The construction company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.51. Argan had a net margin of 8.20% and a return on equity of 21.66%. The business had revenue of $193.66 million during the quarter, compared to analysts' expectations of $193.75 million. During the same quarter last year, the company earned $0.58 earnings per share. The firm's revenue was up 22.8% on a year-over-year basis.

Argan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, April 22nd. Argan's payout ratio is presently 21.04%.

Argan Company Profile

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.