Partners Group Holding AG Has $7.35 Million Position in ArcBest Co. (NASDAQ:ARCB)

Partners Group Holding AG lessened its stake in ArcBest Co. (NASDAQ:ARCB) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,713 shares of the transportation company’s stock after selling 9,129 shares during the quarter. Partners Group Holding AG’s holdings in ArcBest were worth $7,345,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ARCB. Blue Trust Inc. increased its holdings in shares of ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after buying an additional 177 shares in the last quarter. R Squared Ltd bought a new position in shares of ArcBest during the 4th quarter valued at about $40,000. Quest Partners LLC boosted its stake in ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after purchasing an additional 206 shares during the period. Smartleaf Asset Management LLC boosted its position in ArcBest by 471.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock worth $51,000 after acquiring an additional 453 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after buying an additional 95 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Bank of America reduced their price target on ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a research report on Wednesday, March 12th. Stifel Nicolaus upped their price target on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. UBS Group decreased their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Citigroup dropped their target price 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. Finally, Wells Fargo & Company reduced their price target on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $108.33.

Insiders Place Their Bets

In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now owns 8,142 shares in the company, valued at $609,754.38. This trade represents a 9.41 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.65% of the company’s stock.

ArcBest Price Performance

ARCB stock opened at $71.66 on Friday. ArcBest Co. has a 1 year low of $68.83 and a 1 year high of $153.61. 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 stock has a market cap of $1.66 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 1.70 and a beta of 1.54. The company has a 50 day simple moving average of $87.81 and a 200 day simple moving average of $98.82.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating 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 period in the previous year, the business posted $2.47 earnings per share. Research analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s dividend payout ratio is presently 6.55%.

About ArcBest

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.