2,449 Shares in ArcBest Co. (NASDAQ:ARCB) Purchased by Bridgewater Associates LP

Bridgewater Associates LP bought a new stake in ArcBest Co. (NASDAQ:ARCB) during the 4th quarter, HoldingsChannel.com reports. The firm bought 2,449 shares of the transportation company’s stock, valued at approximately $229,000.

Several other large investors have also recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of ArcBest by 4.5% during the fourth quarter. Barclays PLC now owns 45,078 shares of the transportation company’s stock worth $4,207,000 after buying an additional 1,944 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in ArcBest by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock valued at $230,000 after acquiring an additional 157 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in ArcBest by 41.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 163,168 shares of the transportation company’s stock valued at $15,227,000 after acquiring an additional 48,184 shares in the last quarter. Invesco Ltd. raised its holdings in ArcBest by 29.3% in the 4th quarter. Invesco Ltd. now owns 136,375 shares of the transportation company’s stock valued at $12,727,000 after acquiring an additional 30,906 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in ArcBest by 9.1% in the 4th quarter. Bank of Montreal Can now owns 4,568 shares of the transportation company’s stock worth $426,000 after purchasing an additional 380 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ArcBest news, CFO John Matthew Beasley acquired 700 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now owns 8,142 shares of the company’s stock, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.28% of the company’s stock.

ArcBest Stock Performance

Shares of ARCB stock opened at $60.99 on Monday. ArcBest Co. has a one year low of $57.38 and a one year high of $146.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The firm’s 50 day moving average price is $74.28 and its 200-day moving average price is $92.81. The firm has a market cap of $1.41 billion, a P/E ratio of 8.32, a P/E/G ratio of 1.70 and a beta of 1.62.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter last year, the company earned $2.47 earnings per share. As a group, equities research analysts predict that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s dividend payout ratio is currently 6.55%.

Wall Street Analyst Weigh In

ARCB has been the subject of several recent research reports. Stifel Nicolaus increased their price target on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company cut their target price on ArcBest from $96.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Truist Financial began coverage on shares of ArcBest in a research report on Thursday, March 13th. They set a “buy” rating and a $93.00 price target on the stock. Jefferies Financial Group cut their price objective on shares of ArcBest from $120.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, Stephens reiterated an “overweight” rating and issued a $116.00 target price on shares of ArcBest in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.75.

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.