Arcosa, Inc. (NYSE:ACA) Short Interest Down 20.9% in October

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

Insider Activity

In other news, Director Steven J. Demetriou purchased 6,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $87.70 per share, for a total transaction of $526,200.00. Following the completion of the transaction, the director now directly owns 9,943 shares in the company, valued at $872,001.10. This represents a 152.17 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Arcosa

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new position in Arcosa during the 2nd quarter worth approximately $25,000. Innealta Capital LLC bought a new stake in shares of Arcosa during the second quarter valued at approximately $69,000. Covestor Ltd boosted its position in shares of Arcosa by 38.8% during the first quarter. Covestor Ltd now owns 888 shares of the company’s stock valued at $77,000 after buying an additional 248 shares during the last quarter. KBC Group NV increased its position in shares of Arcosa by 20.5% during the third quarter. KBC Group NV now owns 1,424 shares of the company’s stock valued at $135,000 after acquiring an additional 242 shares during the last quarter. Finally, Bank & Trust Co purchased a new position in Arcosa in the second quarter worth $196,000. Institutional investors and hedge funds own 90.66% of the company’s stock.

Arcosa Stock Performance

ACA stock traded down $0.92 during trading on Friday, reaching $102.75. 84,722 shares of the stock were exchanged, compared to its average volume of 239,719. Arcosa has a twelve month low of $71.89 and a twelve month high of $107.79. The company has a current ratio of 3.61, a quick ratio of 2.77 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.01 billion, a P/E ratio of 39.42 and a beta of 0.71. The stock has a 50 day simple moving average of $94.30 and a 200-day simple moving average of $88.61.

Arcosa (NYSE:ACA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, topping 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 firm had revenue of $640.40 million during the quarter, compared to analysts’ expectations of $682.52 million. During the same quarter last year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arcosa will post 3.38 earnings per share for the current year.

Arcosa Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACA. Barclays began coverage on shares of Arcosa in a research note on Tuesday, October 29th. They set an “overweight” rating and a $106.00 target price for the company. Stephens raised shares of Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price target on the stock in a research report on Wednesday, August 7th. Finally, Oppenheimer lifted their price target on Arcosa from $100.00 to $105.00 and gave the stock 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.