ArcBest (NASDAQ:ARCB) Insider Sells $862,820.00 in Stock

ArcBest Corporation (NASDAQ:ARCB) insider Erin Gattis sold 6,163 shares of ArcBest stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total value of $862,820.00. Following the completion of the transaction, the insider directly owned 24,286 shares in the company, valued at $3,400,040. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

ArcBest Trading Down 1.8%

Shares of NASDAQ:ARCB traded down $2.64 during trading on Wednesday, reaching $141.67. 330,486 shares of the company traded hands, compared to its average volume of 375,436. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 205.32, a P/E/G ratio of 0.45 and a beta of 1.57. ArcBest Corporation has a 52-week low of $59.43 and a 52-week high of $176.69. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average is $149.47 and its 200-day moving average is $120.55.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.12. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $1.36 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. As a group, analysts forecast that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 7th. ArcBest’s dividend payout ratio (DPR) is 69.57%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in ArcBest by 100.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 87,256 shares of the transportation company’s stock worth $6,734,000 after buying an additional 43,803 shares in the last quarter. Aberdeen Group plc bought a new stake in ArcBest during the 4th quarter valued at approximately $7,240,000. Principal Financial Group Inc. boosted its position in ArcBest by 349.9% during the 4th quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock valued at $36,634,000 after acquiring an additional 384,024 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ArcBest by 19,008.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 122,292 shares of the transportation company’s stock worth $9,073,000 after acquiring an additional 121,652 shares during the period. Finally, Encompass Capital Advisors LLC purchased a new position in shares of ArcBest during the 4th quarter worth approximately $20,402,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARCB has been the topic of a number of analyst reports. Weiss Ratings cut shares of ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 28th. Citizens Jmp initiated coverage on shares of ArcBest in a report on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 target price for the company. Wells Fargo & Company raised their target price on ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. Zacks Research upgraded ArcBest from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Bank of America upped their price target on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.23.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.