Bailard Inc. bought a new position in ArcBest Corp (NASDAQ:ARCB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 24,400 shares of the transportation company’s stock, valued at approximately $872,000. Bailard Inc. owned approximately 0.10% of ArcBest at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of ArcBest by 49.2% during the second quarter. Wells Fargo & Company MN now owns 27,501 shares of the transportation company’s stock valued at $566,000 after purchasing an additional 9,068 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of ArcBest by 30.5% during the second quarter. TIAA CREF Investment Management LLC now owns 174,660 shares of the transportation company’s stock valued at $3,598,000 after purchasing an additional 40,848 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of ArcBest by 6.4% during the second quarter. Thrivent Financial For Lutherans now owns 14,480 shares of the transportation company’s stock valued at $298,000 after purchasing an additional 870 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of ArcBest by 1.6% during the second quarter. New York State Common Retirement Fund now owns 58,088 shares of the transportation company’s stock valued at $1,197,000 after purchasing an additional 897 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of ArcBest by 5.5% during the second quarter. Northern Trust Corp now owns 494,643 shares of the transportation company’s stock valued at $10,190,000 after purchasing an additional 25,933 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of ArcBest from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Cowen reiterated a “market perform” rating and set a $33.00 price objective (up from $29.00) on shares of ArcBest in a research note on Monday, November 6th. ValuEngine downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Seaport Global Securities reiterated a “neutral” rating on shares of ArcBest in a research note on Tuesday, January 16th. Finally, Zacks Investment Research upgraded shares of ArcBest from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $34.63.
In other ArcBest news, Director William Legg sold 6,153 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $37.52, for a total value of $230,860.56. Following the completion of the sale, the director now directly owns 36,147 shares in the company, valued at $1,356,235.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Janice E. Stipp sold 3,700 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $38.09, for a total transaction of $140,933.00. Following the completion of the sale, the director now owns 20,200 shares of the company’s stock, valued at $769,418. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.
Shares of ArcBest Corp (NASDAQ ARCB) opened at $33.45 on Friday. The firm has a market cap of $860.12, a P/E ratio of 14.93 and a beta of 1.71. ArcBest Corp has a one year low of $16.95 and a one year high of $39.70. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 0.32.
ArcBest (NASDAQ:ARCB) last announced its earnings results on Wednesday, January 31st. The transportation company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.07. The company had revenue of $710.72 million during the quarter, compared to the consensus estimate of $723.69 million. ArcBest had a net margin of 2.11% and a return on equity of 5.82%. ArcBest’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.28 earnings per share. equities research analysts anticipate that ArcBest Corp will post 2.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Friday, February 9th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.32 annualized dividend and a yield of 0.96%. ArcBest’s dividend payout ratio (DPR) is 14.29%.
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ArcBest Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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