Short Interest in Arcosa, Inc. (NYSE:ACA) Grows By 5.7%

Arcosa, Inc. (NYSE:ACA) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 637,700 shares, a growth of 5.7% from the September 15th total of 603,400 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average trading volume of 270,400 shares, the days-to-cover ratio is currently 2.4 days.

Insider Buying and Selling at Arcosa

In related news, CEO Antonio Carrillo acquired 12,125 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of $82.05 per share, for a total transaction of $994,856.25. Following the acquisition, the chief executive officer now directly owns 406,275 shares of the company’s stock, valued at $33,334,863.75. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Bryan Stevenson sold 4,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $83.78, for a total value of $335,120.00. Following the completion of the sale, the insider now directly owns 35,333 shares of the company’s stock, valued at $2,960,198.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Antonio Carrillo bought 12,125 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $82.05 per share, for a total transaction of $994,856.25. Following the transaction, the chief executive officer now directly owns 406,275 shares in the company, valued at approximately $33,334,863.75. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcosa

Several hedge funds and other institutional investors have recently made changes to their positions in ACA. Vanguard Group Inc. boosted its position in Arcosa by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 5,549,618 shares of the company’s stock worth $458,620,000 after acquiring an additional 32,164 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Arcosa by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 553,157 shares of the company’s stock worth $46,139,000 after purchasing an additional 6,673 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Arcosa by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 456,066 shares of the company’s stock valued at $38,040,000 after purchasing an additional 9,602 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Arcosa by 6.9% in the first quarter. Russell Investments Group Ltd. now owns 294,928 shares of the company’s stock valued at $25,323,000 after purchasing an additional 18,967 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Arcosa by 1.9% during the first quarter. Principal Financial Group Inc. now owns 268,673 shares of the company’s stock worth $23,068,000 after buying an additional 5,098 shares in the last quarter. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Arcosa Stock Performance

Arcosa stock traded up $1.96 during mid-day trading on Wednesday, reaching $96.52. 162,194 shares of the company traded hands, compared to its average volume of 236,786. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 33.05 and a beta of 0.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.31 and a quick ratio of 1.36. The firm’s fifty day moving average is $89.30 and its two-hundred day moving average is $85.99. Arcosa has a fifty-two week low of $61.98 and a fifty-two week high of $97.65.

Arcosa (NYSE:ACA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. The firm had revenue of $664.70 million during the quarter, compared to analysts’ expectations of $661.54 million. Arcosa had a return on equity of 6.35% and a net margin of 6.05%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. On average, equities research analysts expect that Arcosa will post 3.39 earnings per share for the current fiscal year.

Arcosa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. Arcosa’s payout ratio is currently 6.85%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ACA. Stephens upgraded Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price objective for the company in a research note on Wednesday, August 7th. Oppenheimer increased their target price on shares of Arcosa from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, August 19th.

About Arcosa

Arcosa, Inc, together with its subsidiaries, provides infrastructure-related products and solutions for the construction, engineered structures, and transportation markets in the United States. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products.