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

Arcosa, Inc. (NYSE:ACA) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 584,300 shares, a drop of 20.9% from the October 15th total of 738,400 shares. Based on an average daily volume of 252,900 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.2% of the shares of the stock are sold short.

Insiders Place Their Bets

In related news, Director Steven J. Demetriou acquired 6,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $87.70 per share, with a total value of $526,200.00. Following the acquisition, the director now owns 9,943 shares of the company’s stock, valued at approximately $872,001.10. The trade was a 152.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners grew its stake in shares of Arcosa by 272.6% during the first quarter. Boston Partners now owns 220,961 shares of the company’s stock valued at $18,947,000 after buying an additional 161,662 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Arcosa by 152.2% in the 3rd 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 in the last quarter. Algert Global LLC bought a new position in shares of Arcosa during the 2nd quarter worth approximately $8,915,000. Jacobs Levy Equity Management Inc. acquired a new stake in Arcosa in the third quarter valued at approximately $8,327,000. Finally, HighTower Advisors LLC grew its stake in 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 buying an additional 65,841 shares during the last quarter. 90.66% of the stock is currently owned by institutional investors.

Arcosa Stock Performance

Shares of Arcosa stock traded down $0.92 during trading hours on Friday, reaching $102.75. 84,722 shares of the stock traded hands, compared to its average volume of 239,719. The company has a 50 day moving average price of $94.30 and a 200 day moving average price of $88.61. Arcosa has a one year low of $71.89 and a one year high of $107.79. The company has a quick ratio of 2.77, a current ratio of 3.61 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 39.42 and a beta of 0.71.

Arcosa (NYSE:ACA) last released its earnings results 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. The company had revenue of $640.40 million for the quarter, compared to the consensus estimate of $682.52 million. Arcosa had a return on equity of 6.64% and a net margin of 5.17%. Arcosa’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 earnings per share. On average, equities research analysts expect that Arcosa will post 3.38 earnings per share for the current fiscal year.

Arcosa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. Arcosa’s payout ratio is 7.60%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays started coverage on shares of Arcosa in a report on Tuesday, October 29th. They issued an “overweight” rating and a $106.00 target price on the stock. Stephens upgraded shares of Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price objective on the stock in a report on Wednesday, August 7th. Finally, Oppenheimer lifted their target price 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 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.