Arcosa, Inc. (NYSE:ACA) Sees Significant Drop in Short Interest

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

Arcosa Trading Down 1.0 %

NYSE:ACA opened at $106.79 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.61 and a quick ratio of 2.77. Arcosa has a 12-month low of $72.75 and a 12-month high of $113.43. The business has a 50 day simple moving average of $101.66 and a 200 day simple moving average of $92.10. The firm has a market capitalization of $5.21 billion, a P/E ratio of 40.60 and a beta of 0.74.

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

Arcosa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Wednesday, January 15th. Arcosa’s dividend payout ratio (DPR) is presently 7.60%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ACA. Harbor Capital Advisors Inc. grew its position in shares of Arcosa by 152.2% in the third quarter. Harbor Capital Advisors Inc. now owns 195,358 shares of the company’s stock valued at $18,512,000 after purchasing an additional 117,892 shares during the last quarter. Algert Global LLC bought a new stake in shares of Arcosa in the 2nd quarter valued at approximately $8,915,000. Jacobs Levy Equity Management Inc. acquired a new position in Arcosa during the third quarter worth $8,327,000. HighTower Advisors LLC increased its position in shares of Arcosa by 969.5% during the 3rd quarter. HighTower Advisors LLC now owns 72,632 shares of the company’s stock worth $6,812,000 after purchasing an additional 65,841 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Arcosa by 236.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 92,512 shares of the company’s stock worth $8,766,000 after acquiring an additional 65,041 shares during the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays began coverage on Arcosa in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $106.00 target price on the stock.

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.