Sequoia Financial Advisors LLC Purchases 561 Shares of ArcBest Co. (NASDAQ:ARCB)

Sequoia Financial Advisors LLC increased its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 15.2% in the third quarter, HoldingsChannel reports. The firm owned 4,242 shares of the transportation company’s stock after buying an additional 561 shares during the period. Sequoia Financial Advisors LLC’s holdings in ArcBest were worth $460,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Westwood Holdings Group Inc. boosted its stake in shares of ArcBest by 34.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock worth $62,509,000 after acquiring an additional 150,467 shares during the period. American Century Companies Inc. boosted its position in ArcBest by 4.0% during the second quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock worth $56,267,000 after purchasing an additional 20,115 shares during the period. Marshall Wace LLP boosted its position in ArcBest by 158.7% during the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock worth $20,558,000 after purchasing an additional 117,774 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of ArcBest by 9.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 165,175 shares of the transportation company’s stock valued at $23,537,000 after purchasing an additional 14,463 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of ArcBest by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock valued at $16,141,000 after purchasing an additional 1,214 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of ArcBest from $134.00 to $133.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Stifel Nicolaus dropped their price target on ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a report on Monday, October 21st. The Goldman Sachs Group reduced their price target on ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of ArcBest in a research report on Wednesday, September 4th. Finally, Morgan Stanley reduced their target price on shares of ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $126.92.

ArcBest Stock Performance

Shares of ArcBest stock opened at $103.78 on Monday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12. The company has a market cap of $2.43 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.28 and a beta of 1.46. The company has a 50 day moving average of $105.10 and a 200-day moving average of $111.48. ArcBest Co. has a 1-year low of $86.93 and a 1-year high of $153.60.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that ArcBest Co. will post 7.06 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Tuesday, August 13th. ArcBest’s dividend payout ratio (DPR) is presently 9.66%.

Insider Buying and Selling at ArcBest

In related news, Director Salvatore A. Abbate bought 1,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $103.93 per share, with a total value of $103,930.00. Following the completion of the acquisition, the director now owns 3,650 shares of the company’s stock, valued at $379,344.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.65% of the company’s stock.

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.