Mutual Advisors LLC Acquires Shares of 12,382 ArcBest Corporation $ARCB

Mutual Advisors LLC bought a new position in shares of ArcBest Corporation (NASDAQ:ARCB) during the second quarter, Holdings Channel.com reports. The fund bought 12,382 shares of the transportation company’s stock, valued at approximately $954,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. boosted its position in shares of ArcBest by 7.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company’s stock valued at $304,000 after purchasing an additional 285 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of ArcBest in the 1st quarter valued at about $381,000. GAMMA Investing LLC boosted its position in shares of ArcBest by 185.3% in the 1st quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 932 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of ArcBest by 23.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 41,971 shares of the transportation company’s stock valued at $3,232,000 after purchasing an additional 7,955 shares during the period. Finally, Strs Ohio acquired a new stake in shares of ArcBest in the 1st quarter valued at about $473,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Trading Down 0.6%

NASDAQ ARCB opened at $73.42 on Friday. The stock has a market capitalization of $1.67 billion, a P/E ratio of 10.93, a P/E/G ratio of 1.36 and a beta of 1.66. ArcBest Corporation has a 52-week low of $55.19 and a 52-week high of $123.25. The firm has a 50-day moving average price of $72.11 and a 200 day moving average price of $70.31. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.12). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.98 earnings per share. Equities research analysts expect that ArcBest Corporation will post 7 EPS for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 8th. ArcBest’s dividend payout ratio is currently 7.14%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ARCB. Wells Fargo & Company decreased their target price on ArcBest from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of ArcBest in a research note on Wednesday, October 8th. UBS Group increased their target price on shares of ArcBest from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 30th. Cowen reiterated a “hold” rating on shares of ArcBest in a research note on Wednesday, October 1st. Finally, Morgan Stanley decreased their target price on shares of ArcBest from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and a consensus price target of $90.00.

ArcBest Company 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.