Sei Investments Co. boosted its position in ArcBest Corporation (NASDAQ:ARCB) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,573 shares of the transportation company’s stock after acquiring an additional 2,889 shares during the quarter. Sei Investments Co. owned 0.14% of ArcBest worth $1,223,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacad Investment Ltd. increased its stake in ArcBest by 34.1% in the second quarter. Pacad Investment Ltd. now owns 5,900 shares of the transportation company’s stock valued at $122,000 after acquiring an additional 1,500 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in ArcBest by 61.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock valued at $160,000 after acquiring an additional 2,957 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of ArcBest by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock valued at $202,000 after buying an additional 100 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of ArcBest during the second quarter valued at about $236,000. Finally, Arizona State Retirement System grew its stake in shares of ArcBest by 0.8% during the second quarter. Arizona State Retirement System now owns 12,516 shares of the transportation company’s stock valued at $258,000 after buying an additional 100 shares during the last quarter. 89.57% of the stock is currently owned by institutional investors and hedge funds.
ArcBest Corporation (NASDAQ:ARCB) opened at $36.75 on Thursday. ArcBest Corporation has a 12 month low of $16.95 and a 12 month high of $38.60. The stock has a market capitalization of $930.62, a PE ratio of 29.51 and a beta of 1.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 1.26.
ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, November 3rd. The transportation company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The company had revenue of $744.30 million for the quarter, compared to analysts’ expectations of $750.16 million. ArcBest had a return on equity of 5.34% and a net margin of 0.88%. ArcBest’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. sell-side analysts anticipate that ArcBest Corporation will post 1.29 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th were paid a $0.08 dividend. The ex-dividend date was Monday, November 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. ArcBest’s payout ratio is presently 34.41%.
A number of research analysts have recently issued reports on ARCB shares. Deutsche Bank reaffirmed a “hold” rating and set a $29.00 price objective (up from $26.00) on shares of ArcBest in a research note on Wednesday, August 9th. Buckingham Research started coverage on ArcBest in a research note on Monday, August 21st. They set a “neutral” rating and a $29.00 price objective on the stock. ValuEngine raised ArcBest from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $28.00 price objective on shares of ArcBest in a research note on Thursday, September 21st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $22.00 price objective (up from $21.00) on shares of ArcBest in a research note on Thursday, October 5th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. ArcBest currently has an average rating of “Hold” and a consensus price target of $30.86.
In related news, Director Steven Spinner sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $32.00, for a total value of $128,000.00. Following the sale, the director now directly owns 24,700 shares of the company’s stock, valued at $790,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is owned by company insiders.
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ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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