Arcosa (NYSE:ACA) Reaches New 1-Year High After Dividend Announcement

Arcosa Inc (NYSE:ACA) shares hit a new 52-week high during trading on Friday after the company announced a dividend. The stock traded as high as $40.91 and last traded at $40.86, with a volume of 2502 shares. The stock had previously closed at $39.31.

The newly announced dividend which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. Arcosa’s dividend payout ratio (DPR) is presently 10.99%.

Several equities research analysts recently commented on the stock. Sidoti started coverage on shares of Arcosa in a research report on Wednesday, September 18th. They set a “buy” rating and a $47.00 target price on the stock. ValuEngine cut shares of Arcosa from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research downgraded shares of Arcosa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Arcosa presently has an average rating of “Hold” and a consensus price target of $38.69.

The stock has a market capitalization of $1.87 billion and a price-to-earnings ratio of 22.25. The company has a fifty day simple moving average of $37.76 and a 200 day simple moving average of $35.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 3.01.

Arcosa (NYSE:ACA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.14. Arcosa had a return on equity of 6.60% and a net margin of 7.20%. The company had revenue of $445.00 million during the quarter, compared to analysts’ expectations of $468.30 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The business’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, equities analysts predict that Arcosa Inc will post 2.26 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Usca Ria LLC bought a new position in Arcosa during the 3rd quarter worth approximately $26,000. Rockefeller Capital Management L.P. bought a new position in Arcosa during the second quarter worth $60,000. C M Bidwell & Associates Ltd. acquired a new position in Arcosa in the second quarter valued at $79,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Arcosa in the second quarter valued at $88,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in Arcosa by 26.1% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,230 shares of the company’s stock valued at $130,000 after buying an additional 668 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

About Arcosa (NYSE:ACA)

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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