Granite Investment Partners LLC Lowers Stock Position in Arcosa, Inc. (NYSE:ACA)

Granite Investment Partners LLC reduced its stake in Arcosa, Inc. (NYSE:ACA - Get Rating) by 18.1% during the third quarter, HoldingsChannel reports. The firm owned 264,807 shares of the company's stock after selling 58,534 shares during the period. Granite Investment Partners LLC's holdings in Arcosa were worth $15,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Arcosa by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,228,933 shares of the company's stock valued at $299,356,000 after purchasing an additional 69,247 shares in the last quarter. State Street Corp raised its stake in Arcosa by 2.8% in the first quarter. State Street Corp now owns 2,001,660 shares of the company's stock valued at $114,595,000 after purchasing an additional 54,431 shares in the last quarter. Royce & Associates LP raised its stake in Arcosa by 2.7% in 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 raised 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 in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Arcosa by 7.5% during the second quarter. Goldman Sachs Group Inc. now owns 1,128,796 shares of the company's stock worth $52,410,000 after acquiring an additional 79,024 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Get Arcosa alerts: Arcosa Price Performance

Shares of ACA stock traded down $0.51 during trading hours on Friday, hitting $54.48. 192 shares of the company's stock were exchanged, compared to its average volume of 240,774. The company has a market capitalization of $2.63 billion, a PE ratio of 26.82 and a beta of 0.49. Arcosa, Inc. has a 12-month low of $43.42 and a 12-month high of $65.80. The business's 50 day simple moving average is $59.06 and its 200-day simple moving average is $56.34. The company has a current ratio of 2.18, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34.

Arcosa (NYSE:ACA - Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.12. Arcosa had a net margin of 4.43% and a return on equity of 5.77%. The business had revenue of $603.90 million for the quarter, compared to analysts' expectations of $580.94 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that Arcosa, Inc. will post 2.14 earnings per share for the current year. Arcosa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, January 12th. Arcosa's dividend payout ratio (DPR) is presently 9.76%.

Wall Street Analysts Forecast Growth

Separately, Stephens downgraded shares of Arcosa from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $75.00 to $65.00 in a research note on Monday, November 7th.

Insider Activity

In other news, insider Bryan Stevenson sold 4,988 shares of the business's stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $57.96, for a total transaction of $289,104.48. Following the sale, the insider now owns 25,210 shares in the company, valued at approximately $1,461,171.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Bryan Stevenson sold 4,988 shares of Arcosa stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $57.96, for a total value of $289,104.48. Following the completion of the transaction, the insider now owns 25,210 shares of the company's stock, valued at approximately $1,461,171.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mary E. Henderson sold 6,000 shares of Arcosa stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $58.46, for a total value of $350,760.00. Following the completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,488 shares of company stock worth $1,139,069. Corporate insiders own 0.76% of the company's stock.

Arcosa Profile

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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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