Short Interest in Arcosa, Inc. (NYSE:ACA) Declines By 8.1%

Arcosa, Inc. (NYSE:ACA) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 738,000 shares, a decline of 8.1% from the November 15th total of 802,800 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 246,700 shares, the short-interest ratio is currently 3.0 days.

Hedge Funds Weigh In On Arcosa

A number of large investors have recently made changes to their positions in ACA. Franklin Resources Inc. grew its stake in Arcosa by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 778,246 shares of the company’s stock worth $74,214,000 after buying an additional 47,474 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Arcosa by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,129,456 shares of the company’s stock worth $107,047,000 after acquiring an additional 16,032 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Arcosa during the third quarter worth about $219,000. Barclays PLC increased its holdings in shares of Arcosa by 330.9% during the third quarter. Barclays PLC now owns 81,782 shares of the company’s stock valued at $7,750,000 after acquiring an additional 62,804 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in shares of Arcosa in the 3rd quarter valued at approximately $328,000. 90.66% of the stock is owned by institutional investors and hedge funds.

Arcosa Stock Down 1.0 %

Shares of NYSE ACA traded down $1.05 during mid-day trading on Tuesday, reaching $106.79. 267,844 shares of the company were exchanged, compared to its average volume of 240,368. Arcosa has a 1 year low of $72.75 and a 1 year high of $113.43. The firm has a 50-day moving average of $101.66 and a 200 day moving average of $92.10. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 40.60 and a beta of 0.74. The company has a quick ratio of 2.77, a current ratio of 3.61 and a debt-to-equity ratio of 0.51.

Arcosa (NYSE:ACA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.78 by $0.13. Arcosa had a net margin of 5.17% and a return on equity of 6.64%. The business had revenue of $640.40 million during the quarter, compared to analyst estimates of $682.52 million. During the same period in the prior year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts expect that Arcosa will post 3.37 earnings per share for the current year.

Arcosa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.19%. The ex-dividend date is Wednesday, January 15th. Arcosa’s dividend payout ratio is currently 7.60%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ACA shares. Barclays started coverage on Arcosa in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $106.00 price objective on the stock. Oppenheimer raised 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.

Arcosa Company Profile

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.