Penserra Capital Management LLC Takes Position in Arcosa Inc (NYSE:ACA)
Penserra Capital Management LLC purchased a new stake in shares of Arcosa Inc (NYSE:ACA) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,385 shares of the company’s stock, valued at approximately $61,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in ACA. Cramer Rosenthal Mcglynn LLC grew its stake in shares of Arcosa by 38.0% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 541,216 shares of the company’s stock valued at $24,111,000 after buying an additional 149,120 shares in the last quarter. Sprott Inc. grew its stake in shares of Arcosa by 10.0% in the 4th quarter. Sprott Inc. now owns 110,000 shares of the company’s stock valued at $4,900,000 after buying an additional 10,000 shares in the last quarter. Amalgamated Bank grew its stake in shares of Arcosa by 8.3% in the 4th quarter. Amalgamated Bank now owns 8,095 shares of the company’s stock valued at $361,000 after buying an additional 623 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Arcosa by 17.8% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 44,900 shares of the company’s stock valued at $2,000,000 after buying an additional 6,800 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. bought a new stake in shares of Arcosa in the 4th quarter valued at approximately $226,000. 87.64% of the stock is owned by institutional investors.
Arcosa stock traded up $3.93 during trading hours on Thursday, reaching $39.10. 474,265 shares of the company were exchanged, compared to its average volume of 340,550. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.11 and a beta of 0.50. The company has a current ratio of 2.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average of $40.95 and a 200 day moving average of $39.86. Arcosa Inc has a 12 month low of $28.14 and a 12 month high of $47.85.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, April 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. Arcosa’s payout ratio is currently 8.51%.
ACA has been the subject of several recent research reports. Stephens boosted their price target on Arcosa from $43.00 to $48.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. DA Davidson lowered their price target on Arcosa from $52.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, March 20th. They noted that the move was a valuation call. Zacks Investment Research cut Arcosa from a “buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Sidoti boosted their price target on Arcosa from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, ValuEngine cut Arcosa from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Arcosa has a consensus rating of “Hold” and an average price target of $47.75.
In related news, CEO Antonio Carrillo bought 15,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average price of $30.07 per share, with a total value of $451,050.00. Following the completion of the transaction, the chief executive officer now directly owns 215,258 shares of the company’s stock, valued at $6,472,808.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.37% of the stock is owned by corporate insiders.
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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