State of Alaska Department of Revenue Has $1.75 Million Stock Position in ArcBest Co. (NASDAQ:ARCB)

State of Alaska Department of Revenue lessened its holdings in ArcBest Co. (NASDAQ:ARCB) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,557 shares of the transportation company’s stock after selling 402 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of ArcBest worth $1,749,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Horrell Capital Management Inc. increased its position in ArcBest by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 29,224 shares of the transportation company’s stock worth $3,513,000 after purchasing an additional 94 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of ArcBest by 2.6% during the second quarter. Captrust Financial Advisors now owns 4,116 shares of the transportation company’s stock worth $407,000 after buying an additional 104 shares in the last quarter. Guidance Capital Inc. lifted its stake in shares of ArcBest by 4.9% in the 3rd quarter. Guidance Capital Inc. now owns 2,785 shares of the transportation company’s stock valued at $274,000 after acquiring an additional 131 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of ArcBest by 3.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 4,366 shares of the transportation company’s stock valued at $444,000 after acquiring an additional 140 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of ArcBest by 14.0% during the 3rd quarter. Royal Bank of Canada now owns 1,297 shares of the transportation company’s stock valued at $95,000 after acquiring an additional 159 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

Insider Activity

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the sale, the insider now owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. started coverage on ArcBest in a research report on Monday, March 11th. They issued an “overweight” rating and a $168.00 target price for the company. 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 target price on the stock. Stifel Nicolaus lifted their price target on shares of ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Stephens boosted their price objective on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley raised their target price on ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, ArcBest currently has a consensus rating of “Moderate Buy” and an average price target of $146.69.

ArcBest Trading Up 4.3 %

Shares of ARCB stock opened at $149.87 on Friday. ArcBest Co. has a fifty-two week low of $82.18 and a fifty-two week high of $149.99. 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 stock has a 50 day simple moving average of $137.27 and a two-hundred day simple moving average of $120.69. The company has a market cap of $3.52 billion, a P/E ratio of 18.95, a PEG ratio of 0.60 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.22 by $0.25. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.45 EPS. Research analysts forecast that ArcBest Co. will post 10.15 earnings per share for the current year.

ArcBest Dividend Announcement

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

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.