Arcosa, Inc. (NYSE:ACA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Arcosa, Inc. (NYSE:ACA) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 396,716 shares of the company’s stock after selling 17,506 shares during the period. Bank of New York Mellon Corp owned 0.81% of Arcosa worth $30,595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ACA. Proficio Capital Partners LLC bought a new stake in Arcosa during the fourth quarter worth approximately $30,000. Raymond James Financial Inc. acquired a new position in shares of Arcosa in the fourth quarter worth $15,919,000. PNC Financial Services Group Inc. increased its stake in shares of Arcosa by 36.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,068 shares of the company’s stock worth $684,000 after acquiring an additional 1,902 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Arcosa by 12,050.0% in the fourth quarter. AlphaQuest LLC now owns 729 shares of the company’s stock worth $71,000 after acquiring an additional 723 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Arcosa by 22.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,797 shares of the company’s stock worth $1,528,000 after purchasing an additional 2,871 shares in the last quarter. 90.66% of the stock is currently owned by institutional investors and hedge funds.

Arcosa Stock Down 1.9%

ACA stock opened at $87.67 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.98 and a quick ratio of 1.27. The company has a 50-day moving average of $87.71 and a two-hundred day moving average of $87.90. Arcosa, Inc. has a 52-week low of $68.11 and a 52-week high of $113.43. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 55.14 and a beta of 0.99.

Arcosa (NYSE:ACA) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.20. The firm had revenue of $632.00 million during the quarter, compared to analyst estimates of $613.95 million. Arcosa had a net margin of 3.00% and a return on equity of 5.59%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. As a group, equities research analysts anticipate that Arcosa, Inc. will post 3.23 EPS for the current year.

Arcosa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, July 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.23%. Arcosa’s dividend payout ratio is 12.58%.

Insiders Place Their Bets

In related news, insider Jesse E. Jr. Collins sold 8,616 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $86.40, for a total transaction of $744,422.40. Following the sale, the insider directly owned 12,551 shares in the company, valued at $1,084,406.40. This trade represents a 40.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Eric D. Hurst sold 835 shares of Arcosa stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $88.57, for a total transaction of $73,955.95. Following the completion of the sale, the vice president owned 4,112 shares in the company, valued at $364,199.84. The trade was a 16.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Arcosa Company Profile

Arcosa, Inc, together with its subsidiaries, provides infrastructure-related products and solutions for the construction, engineered structures, and transportation markets in the United States. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products.