ArcBest Co. (NASDAQ:ARCB) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its stake in ArcBest Co. (NASDAQ:ARCB) by 7.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,557 shares of the transportation company’s stock after purchasing an additional 315 shares during the period. Sequoia Financial Advisors LLC’s holdings in ArcBest were worth $425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of ArcBest by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock valued at $24,022,000 after purchasing an additional 43,707 shares during the period. Barclays PLC boosted its position in ArcBest by 342.5% in the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock valued at $4,678,000 after buying an additional 33,386 shares during the period. Partners Group Holding AG grew its stake in shares of ArcBest by 51.5% in the third quarter. Partners Group Holding AG now owns 87,842 shares of the transportation company’s stock worth $9,526,000 after acquiring an additional 29,849 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ArcBest by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock worth $44,927,000 after acquiring an additional 21,905 shares during the period. Finally, Citigroup Inc. raised its stake in shares of ArcBest by 91.1% in the third quarter. Citigroup Inc. now owns 45,313 shares of the transportation company’s stock valued at $4,914,000 after acquiring an additional 21,606 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

Shares of NASDAQ:ARCB opened at $72.45 on Wednesday. ArcBest Co. has a 12 month low of $70.96 and a 12 month high of $153.61. The firm has a market capitalization of $1.68 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.70 and a beta of 1.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The company’s fifty day moving average price is $89.16 and its 200 day moving average price is $99.50.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company earned $2.47 EPS. As a group, sell-side analysts predict that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Tuesday, February 11th. ArcBest’s dividend payout ratio is currently 6.55%.

Insider Activity at ArcBest

In other news, CFO John Matthew Beasley acquired 700 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the transaction, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. This represents a 9.41 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ARCB. Morgan Stanley lowered their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price objective on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and issued a $116.00 target price on shares of ArcBest in a report on Tuesday, March 11th. The Goldman Sachs Group lowered their price target on shares of ArcBest from $126.00 to $108.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Citigroup reduced their price objective on shares of ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $108.33.

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.