Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Arcosa, Inc. (NYSE:ACA – Get Rating) by 10.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 305,020 shares of the company's stock after acquiring an additional 29,897 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.63% of Arcosa worth $17,462,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company acquired a new stake in shares of Arcosa during the first quarter valued at about $28,879,000. 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 worth $107,714,000 after purchasing an additional 300,000 shares in the last quarter. Sawgrass Asset Management LLC acquired a new position in Arcosa in the first quarter worth about $234,000. Gabelli Funds LLC grew its stake in Arcosa by 5.7% in the first quarter. Gabelli Funds LLC now owns 217,190 shares of the company's stock worth $12,434,000 after purchasing an additional 11,641 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in Arcosa by 9.6% in the first quarter. Gamco Investors INC. ET AL now owns 304,879 shares of the company's stock worth $17,454,000 after purchasing an additional 26,615 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.
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Insider Activity
In other news, Director Ronald J. Gafford sold 2,017 shares of Arcosa stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $65.16, for a total transaction of $131,427.72. Following the sale, the director now owns 25,459 shares of the company's stock, valued at $1,658,908.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.76% of the company's stock.
Arcosa Stock Performance
Shares of NYSE ACA opened at $56.15 on Monday. The company has a quick ratio of 1.38, a current ratio of 2.09 and a debt-to-equity ratio of 0.35. The firm's 50-day moving average price is $56.22 and its two-hundred day moving average price is $54.18. Arcosa, Inc. has a 52-week low of $43.42 and a 52-week high of $65.80. The stock has a market capitalization of $2.72 billion, a P/E ratio of 29.87 and a beta of 0.50.
Arcosa (NYSE:ACA – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.37. The company had revenue of $602.80 million for the quarter, compared to analysts' expectations of $547.00 million. Arcosa had a return on equity of 5.53% and a net margin of 4.15%. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, sell-side analysts forecast that Arcosa, Inc. will post 2.31 earnings per share for the current year.
Arcosa Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.36%. Arcosa's dividend payout ratio (DPR) is presently 10.64%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on ACA. Stephens lifted their price target on Arcosa from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday, August 8th. TheStreet upgraded Arcosa from a "c+" rating to a "b-" rating in a research note on Thursday, August 4th. Finally, DA Davidson raised their target price on shares of Arcosa to $68.00 in a report on Tuesday, August 9th.
About Arcosa
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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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