Chesapeake Asset Management LLC Purchases Shares of 10,086 Arcosa Inc (ACA)
Chesapeake Asset Management LLC acquired a new stake in Arcosa Inc (NYSE:ACA) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 10,086 shares of the company’s stock, valued at approximately $308,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. First Trust Advisors LP purchased a new position in shares of Arcosa during the 1st quarter worth about $4,006,000. Financial Engines Advisors L.L.C. acquired a new stake in Arcosa during the 1st quarter worth approximately $211,000. Barings LLC acquired a new stake in Arcosa during the 1st quarter worth approximately $1,173,000. Laurion Capital Management LP acquired a new stake in Arcosa during the 1st quarter worth approximately $815,000. Finally, JPMorgan Chase & Co. increased its position in Arcosa by 74.9% during the 1st quarter. JPMorgan Chase & Co. now owns 160,394 shares of the company’s stock worth $4,900,000 after purchasing an additional 68,670 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.
Shares of NYSE:ACA opened at $35.38 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.51 and a quick ratio of 1.41. Arcosa Inc has a 52-week low of $21.00 and a 52-week high of $38.65. The company has a market capitalization of $1.71 billion and a price-to-earnings ratio of 19.44.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, July 12th. Arcosa’s dividend payout ratio (DPR) is 10.99%.
In other Arcosa news, major shareholder Valueact Capital Master Fund, sold 1,395,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $33.02, for a total value of $46,062,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.
A number of research firms recently issued reports on ACA. DA Davidson began coverage on shares of Arcosa in a research report on Thursday, March 21st. They set a “buy” rating and a $29.74 target price for the company. Zacks Investment Research downgraded shares of Arcosa from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Stephens began coverage on shares of Arcosa in a research report on Monday, March 18th. They set an “equal weight” rating for the company. Oppenheimer began coverage on shares of Arcosa in a research report on Monday, March 4th. They set an “outperform” rating and a $40.00 target price for the company. Finally, ValuEngine raised shares of Arcosa from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Arcosa presently has an average rating of “Buy” and a consensus price target of $39.95.
Arcosa Company Profile
Arcosa, Inc manufactures and sells infrastructure-related products and services for the construction, energy, and transportation markets. It operates through three segments: Construction Products Group, Energy Equipment Group, and Transportation Products Group. The Construction Products Group segment offers lightweight and natural construction aggregates, and trench shields and shoring products that are used in construction landscape, including commercial, industrial, road and bridge, and underground construction.
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