6,707 Shares in ArcBest Co. (NASDAQ:ARCB) Acquired by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP purchased a new position in shares of ArcBest Co. (NASDAQ:ARCB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,707 shares of the transportation company’s stock, valued at approximately $806,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARCB. Allworth Financial LP grew its stake in ArcBest by 15,450.0% during the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after buying an additional 309 shares during the period. Point72 Asset Management L.P. purchased a new stake in ArcBest during the second quarter worth approximately $37,000. Ancora Advisors LLC purchased a new stake in ArcBest during the first quarter worth approximately $56,000. Point72 Hong Kong Ltd purchased a new stake in ArcBest during the second quarter worth approximately $58,000. Finally, Tower Research Capital LLC TRC grew its stake in ArcBest by 1,668.9% during the first quarter. Tower Research Capital LLC TRC now owns 796 shares of the transportation company’s stock worth $73,000 after buying an additional 751 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ARCB shares. JPMorgan Chase & Co. started coverage on shares of ArcBest in a research note on Monday, March 11th. They set an “overweight” rating and a $168.00 price objective for the company. TD Cowen upped their target price on shares of ArcBest from $141.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. UBS Group upped their target price on shares of ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Stifel Nicolaus upped their price target on shares of ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ArcBest in a report on Monday, January 29th. They issued a “buy” rating and a $148.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.69.

ArcBest Stock Up 4.3 %

Shares of NASDAQ:ARCB opened at $149.87 on Monday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 0.62 and a beta of 1.49. ArcBest Co. has a 1-year low of $82.18 and a 1-year high of $149.99. The company’s fifty day moving average is $137.27 and its two-hundred day moving average is $120.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the company earned $2.45 EPS. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities analysts anticipate that ArcBest Co. will post 10.16 EPS for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.32%. ArcBest’s dividend payout ratio (DPR) is presently 6.07%.

Insider Buying and Selling

In related news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.18% of the company’s stock.

ArcBest 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.