The Manufacturers Life Insurance Company Increases Position in Arcosa, Inc. (NYSE:ACA)

The Manufacturers Life Insurance Company increased its stake in shares of Arcosa, Inc. (NYSE:ACA) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 567,208 shares of the company’s stock after buying an additional 17,014 shares during the period. The Manufacturers Life Insurance Company’s holdings in Arcosa were worth $54,872,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ACA. Norges Bank purchased a new position in Arcosa during the 4th quarter worth $73,178,000. Neuberger Berman Group LLC grew its stake in shares of Arcosa by 21.6% during the fourth quarter. Neuberger Berman Group LLC now owns 3,016,597 shares of the company’s stock worth $291,831,000 after acquiring an additional 536,349 shares during the last quarter. Capital International Investors increased its holdings in shares of Arcosa by 42.5% during the fourth quarter. Capital International Investors now owns 888,559 shares of the company’s stock valued at $85,959,000 after acquiring an additional 265,056 shares in the last quarter. Oberweis Asset Management Inc. purchased a new position in shares of Arcosa in the 4th quarter valued at approximately $19,638,000. Finally, Raymond James Financial Inc. acquired a new stake in Arcosa in the 4th quarter worth approximately $15,919,000. Institutional investors own 90.66% of the company’s stock.

Arcosa Stock Down 0.1 %

Shares of ACA stock opened at $80.02 on Thursday. Arcosa, Inc. has a fifty-two week low of $68.11 and a fifty-two week high of $113.43. The firm has a market capitalization of $3.90 billion, a PE ratio of 30.43 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.77 and a current ratio of 3.61. The stock’s 50-day simple moving average is $79.88 and its 200-day simple moving average is $93.43.

Arcosa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.20 annualized dividend and a yield of 0.25%. Arcosa’s dividend payout ratio (DPR) is presently 10.47%.

Wall Street Analyst Weigh In

Separately, Oppenheimer upped their price target on shares of Arcosa from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th.

About Arcosa

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.