Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its holdings in Arcosa, Inc. (NYSE:ACA – Get Rating) by 14.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,697 shares of the company’s stock after selling 1,904 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Arcosa were worth $669,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ACA. Vanguard Group Inc. lifted its holdings in Arcosa by 1.3% during the first quarter. Vanguard Group Inc. now owns 5,228,933 shares of the company’s stock worth $299,356,000 after buying an additional 69,247 shares during the period. State Street Corp lifted its stake in shares of Arcosa by 2.8% during the 1st quarter. State Street Corp now owns 2,001,660 shares of the company’s stock worth $114,595,000 after purchasing an additional 54,431 shares during the last quarter. Royce & Associates LP boosted its position in Arcosa by 2.7% during the second quarter. Royce & Associates LP now owns 1,949,561 shares of the company’s stock valued at $90,518,000 after purchasing an additional 51,346 shares in the last quarter. Capital World Investors grew its stake in Arcosa by 19.0% in the first quarter. Capital World Investors now owns 1,881,470 shares of the company’s stock valued at $107,714,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Arcosa by 7.5% in the second quarter. Goldman Sachs Group Inc. now owns 1,128,796 shares of the company’s stock worth $52,410,000 after purchasing an additional 79,024 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Stephens cut shares of Arcosa from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $75.00 to $65.00 in a report on Monday, November 7th.
Arcosa Stock Performance
Arcosa (NYSE:ACA – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. Arcosa had a return on equity of 5.77% and a net margin of 4.43%. The company had revenue of $603.90 million during the quarter, compared to analysts’ expectations of $580.94 million. During the same period last year, the business posted $0.57 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts predict that Arcosa, Inc. will post 2.14 earnings per share for the current fiscal year.
Arcosa Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.36%. Arcosa’s payout ratio is 9.76%.
Insiders Place Their Bets
In related news, CAO Mary E. Henderson sold 6,000 shares of the company’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $58.46, for a total value of $350,760.00. Following the transaction, the chief accounting officer now directly owns 37,315 shares of the company’s stock, valued at approximately $2,181,434.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Gail M. Peck sold 8,500 shares of Arcosa stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $58.73, for a total transaction of $499,205.00. Following the completion of the sale, the chief financial officer now owns 32,575 shares of the company’s stock, valued at $1,913,129.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mary E. Henderson sold 6,000 shares of the stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $58.46, for a total transaction of $350,760.00. Following the completion of the transaction, the chief accounting officer now owns 37,315 shares in the company, valued at approximately $2,181,434.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,488 shares of company stock valued at $1,139,069. Insiders own 0.76% of the company’s stock.
Arcosa, Inc, together with its subsidiaries, provides infrastructure-related products and solutions for the construction, energy, and transportation markets in North America. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products. The Construction Products segment offers natural and recycled aggregates; specialty materials; and trench shields and shoring products for residential and non-residential construction, agriculture, specialty building products, as well as for infrastructure related projects.
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