ArcBest Co. (NASDAQ:ARCB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in ArcBest Co. (NASDAQ:ARCB) by 19.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,475 shares of the transportation company’s stock after selling 51,813 shares during the period. Victory Capital Management Inc. owned about 0.93% of ArcBest worth $23,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Quarry LP grew its stake in shares of ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after acquiring an additional 134 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of ArcBest during the 2nd quarter worth $33,000. Quest Partners LLC purchased a new stake in shares of ArcBest during the 2nd quarter worth $36,000. Cultivar Capital Inc. purchased a new stake in shares of ArcBest during the 2nd quarter worth $43,000. Finally, Mather Group LLC. purchased a new stake in shares of ArcBest during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Trading Down 0.1 %

NASDAQ ARCB opened at $108.25 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $2.53 billion, a PE ratio of 13.55, a P/E/G ratio of 2.03 and a beta of 1.47. ArcBest Co. has a one year low of $94.76 and a one year high of $153.60. The firm’s fifty day moving average is $106.31 and its two-hundred day moving average is $108.64.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 earnings per share. Analysts expect that ArcBest Co. will post 6.19 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. ArcBest’s dividend payout ratio (DPR) is 5.93%.

Insider Transactions at ArcBest

In other news, SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the transaction, the senior vice president now directly owns 5,051 shares in the company, valued at $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.65% of the company’s stock.

Wall Street Analyst Weigh In

ARCB has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Bank of America decreased their price objective on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. TD Cowen cut shares of ArcBest from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $131.00 to $114.00 in a research report on Monday, October 14th. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of ArcBest in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their price target on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, ArcBest presently has a consensus rating of “Hold” and an average price target of $124.50.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.