ArcBest Co. (NASDAQ:ARCB) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,466 shares of the transportation company’s stock after acquiring an additional 525 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ArcBest were worth $657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position 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 acquiring an additional 309 shares during the last quarter. SG Americas Securities LLC acquired a new position in ArcBest during the third quarter worth about $141,000. Bellecapital International Ltd. acquired a new position in shares of ArcBest in the fourth quarter valued at approximately $213,000. PFG Investments LLC acquired a new position in shares of ArcBest in the fourth quarter valued at approximately $218,000. Finally, Saxon Interests Inc. acquired a new position in shares of ArcBest in the fourth quarter valued at approximately $220,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Insiders Place Their Bets

In other news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the transaction, the insider now directly owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.18% of the stock is owned by insiders.

ArcBest Price Performance

ARCB opened at $110.91 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13. ArcBest Co. has a 52-week low of $82.18 and a 52-week high of $153.60. The company has a 50 day moving average of $139.19 and a two-hundred day moving average of $125.72. The company has a market cap of $2.61 billion, a P/E ratio of 14.02, a P/E/G ratio of 0.55 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19). ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. ArcBest’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts expect that ArcBest Co. will post 10.05 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.43%. ArcBest’s dividend payout ratio is currently 6.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ARCB shares. TD Cowen boosted their price objective on shares of ArcBest from $141.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of ArcBest in a research report on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective for the company. Stephens boosted their price objective on shares of ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group boosted their price objective on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $151.54.

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.