Point72 Asia Singapore Pte. Ltd. Increases Stake in Arcosa, Inc. (NYSE:ACA)

Point72 Asia Singapore Pte. Ltd. increased its position in shares of Arcosa, Inc. (NYSE:ACA) by 52.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,018 shares of the company’s stock after purchasing an additional 1,036 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Arcosa were worth $286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its stake in shares of Arcosa by 152.2% during the third quarter. Harbor Capital Advisors Inc. now owns 195,358 shares of the company’s stock valued at $18,512,000 after buying an additional 117,892 shares during the last quarter. Algert Global LLC bought a new position in Arcosa in the 2nd quarter valued at $8,915,000. Synergy Asset Management LLC increased its stake in Arcosa by 88.5% in the second quarter. Synergy Asset Management LLC now owns 115,097 shares of the company’s stock worth $9,600,000 after purchasing an additional 54,045 shares during the period. Millennium Management LLC lifted its position in shares of Arcosa by 378.5% during the second quarter. Millennium Management LLC now owns 54,358 shares of the company’s stock worth $4,534,000 after purchasing an additional 42,997 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Arcosa by 62,983.1% during the second quarter. Cubist Systematic Strategies LLC now owns 41,004 shares of the company’s stock valued at $3,420,000 after purchasing an additional 40,939 shares during the period. 90.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arcosa

In other Arcosa news, Director Steven J. Demetriou acquired 6,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $87.70 per share, with a total value of $526,200.00. Following the completion of the acquisition, the director now owns 9,943 shares in the company, valued at approximately $872,001.10. This trade represents a 152.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays assumed coverage on Arcosa in a report on Tuesday, October 29th. They issued an “overweight” rating and a $106.00 price target for the company. Stephens raised shares of Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price target for the company in a research report on Wednesday, August 7th. Finally, Oppenheimer lifted their price objective on shares of Arcosa from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, August 19th.

Arcosa Stock Performance

ACA stock opened at $108.93 on Wednesday. Arcosa, Inc. has a one year low of $72.75 and a one year high of $113.43. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 41.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.77 and a current ratio of 3.61. The firm has a 50-day simple moving average of $99.02 and a two-hundred day simple moving average of $90.75.

Arcosa (NYSE:ACA) last posted its earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Arcosa had a net margin of 5.17% and a return on equity of 6.64%. The company had revenue of $640.40 million during the quarter, compared to analysts’ expectations of $682.52 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. Arcosa’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts forecast that Arcosa, Inc. will post 3.38 EPS for the current fiscal year.

Arcosa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.18%. The ex-dividend date was Tuesday, October 15th. Arcosa’s payout ratio is 7.60%.

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.