Deutsche Bank AG Purchases Shares of 27,752 ArcBest Corporation $ARCB

Deutsche Bank AG acquired a new position in shares of ArcBest Corporation (NASDAQ:ARCB) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 27,752 shares of the transportation company’s stock, valued at approximately $3,984,000.

A number of other institutional investors also recently made changes to their positions in the company. OneDigital Investment Advisors LLC acquired a new position in shares of ArcBest in the second quarter valued at approximately $361,000. Bank of New York Mellon Corp acquired a new stake in ArcBest during the 2nd quarter worth approximately $27,281,000. State of Wyoming bought a new stake in ArcBest in the 2nd quarter valued at $278,000. Glenmede Trust Co. NA boosted its stake in ArcBest by 1.5% in the 1st quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock valued at $606,000 after purchasing an additional 93 shares during the period. Finally, Amundi grew its holdings in ArcBest by 54.6% in the 1st quarter. Amundi now owns 7,478 shares of the transportation company’s stock valued at $736,000 after buying an additional 2,640 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

Insider Activity at ArcBest

In other ArcBest news, Director Judy R. Mcreynolds sold 2,857 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $138.98, for a total transaction of $397,065.86. Following the completion of the sale, the director directly owned 50,048 shares in the company, valued at $6,955,671.04. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erin K. Gattis sold 6,163 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total value of $862,820.00. Following the completion of the sale, the insider directly owned 24,286 shares in the company, valued at approximately $3,400,040. This represents a 20.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,963 shares of company stock worth $1,678,066 in the last quarter. 0.98% of the stock is currently owned by company insiders.

ArcBest Stock Up 0.8%

Shares of NASDAQ ARCB opened at $135.56 on Wednesday. The stock has a market capitalization of $3.03 billion, a P/E ratio of 196.46, a PEG ratio of 0.44 and a beta of 1.57. The stock’s fifty day moving average is $145.13 and its 200 day moving average is $125.52. ArcBest Corporation has a 52 week low of $59.43 and a 52 week high of $176.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.12. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $1.36 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts forecast that ArcBest Corporation will post 6.9 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 7th. ArcBest’s dividend payout ratio is 69.57%.

Analyst Ratings Changes

ARCB has been the topic of several recent research reports. Wells Fargo & Company increased their price objective on ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, June 5th. Stifel Nicolaus boosted their target price on shares of ArcBest from $134.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. UBS Group upped their price target on shares of ArcBest from $145.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Truist Financial raised their price target on shares of ArcBest from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $172.00 price objective on shares of ArcBest in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, ArcBest currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.23.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.