ArcBest Co. (NASDAQ:ARCB) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,634 shares of the transportation company’s stock after purchasing an additional 520 shares during the period. Mackenzie Financial Corp’s holdings in ArcBest were worth $797,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ARCB. Allworth Financial LP increased its position in shares of ArcBest by 15,450.0% in the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 309 shares during the period. SG Americas Securities LLC purchased a new position in ArcBest in the 3rd quarter worth $141,000. Bellecapital International Ltd. purchased a new position in ArcBest in the 4th quarter worth $213,000. PFG Investments LLC purchased a new position in ArcBest in the 4th quarter worth $218,000. Finally, Saxon Interests Inc. purchased a new position in ArcBest in the 4th quarter worth $220,000. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Trading Up 0.8 %

ARCB stock opened at $138.08 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.13. ArcBest Co. has a 12-month low of $82.18 and a 12-month high of $153.60. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.63 and a beta of 1.49. The business’s 50-day moving average is $140.31 and its 200 day moving average is $124.90.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.25. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm posted $2.45 EPS. ArcBest’s revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that ArcBest Co. will post 10.05 EPS for the current fiscal 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. This represents a $0.48 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Thursday, February 15th. ArcBest’s payout ratio is 6.07%.

Insider Buying and Selling

In related news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the sale, the insider now directly owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley raised their target price on ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. UBS Group raised their target price on ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft began coverage on ArcBest in a research report on Monday, January 29th. They set a “buy” rating and a $148.00 price target on the stock. Stephens increased their price target on ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Stifel Nicolaus increased their price target on ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, ArcBest currently has an average rating of “Moderate Buy” and an average target price of $151.54.

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.