Harel Insurance Investments & Financial Services Ltd. Sells 156 Shares of ArcBest Co. (NASDAQ:ARCB)

Harel Insurance Investments & Financial Services Ltd. lessened its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 31.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 335 shares of the transportation company’s stock after selling 156 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in ArcBest were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allworth Financial LP grew its stake in shares of ArcBest by 15,450.0% in the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after purchasing an additional 309 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of ArcBest in the second quarter worth $37,000. Ancora Advisors LLC bought a new stake in shares of ArcBest in the first quarter worth $56,000. Point72 Hong Kong Ltd bought a new stake in shares of ArcBest in the second quarter worth $58,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of ArcBest by 1,668.9% in the first quarter. Tower Research Capital LLC TRC now owns 796 shares of the transportation company’s stock worth $73,000 after purchasing an additional 751 shares during the last quarter. Institutional investors 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 stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 32,247 shares of the company’s stock, valued at approximately $4,565,530.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ARCB shares. JPMorgan Chase & Co. reduced their price objective on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. The Goldman Sachs Group boosted their target price on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. UBS Group boosted their target price on shares of ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a report on Monday, January 29th. They set a “buy” rating and a $148.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $151.54.

ArcBest Trading Down 0.5 %

Shares of ARCB stock opened at $149.25 on Wednesday. ArcBest Co. has a 52-week low of $82.18 and a 52-week high of $153.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26. The company has a 50-day simple moving average of $140.45 and a two-hundred day simple moving average of $122.93. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 0.63 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $2.45 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. Research analysts anticipate that ArcBest Co. will post 10.08 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Thursday, February 15th. ArcBest’s payout ratio is 6.07%.

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.