PEAK6 Investments L.P. bought a new stake in ArcBest Corp (NASDAQ:ARCB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,466 shares of the transportation company’s stock, valued at approximately $231,000.
A number of other large investors have also bought and sold shares of the business. Millennium Management LLC raised its position in ArcBest by 52.0% in the fourth quarter. Millennium Management LLC now owns 145,821 shares of the transportation company’s stock valued at $5,213,000 after purchasing an additional 49,894 shares during the period. Cornerstone Capital Management Holdings LLC. raised its position in ArcBest by 125.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 146,900 shares of the transportation company’s stock valued at $5,251,000 after purchasing an additional 81,700 shares during the period. Two Sigma Advisers LP raised its position in ArcBest by 3.9% in the fourth quarter. Two Sigma Advisers LP now owns 175,688 shares of the transportation company’s stock valued at $6,281,000 after purchasing an additional 6,600 shares during the period. Goldman Sachs Group Inc. raised its position in ArcBest by 22.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 681,535 shares of the transportation company’s stock valued at $24,365,000 after purchasing an additional 126,959 shares during the period. Finally, Stone Ridge Asset Management LLC purchased a new stake in ArcBest in the fourth quarter valued at $243,000. Institutional investors own 88.73% of the company’s stock.
Shares of ArcBest Corp (NASDAQ:ARCB) opened at $35.50 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $905.15, a price-to-earnings ratio of 15.85 and a beta of 1.73. ArcBest Corp has a 1-year low of $16.95 and a 1-year high of $39.70.
ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Wednesday, January 31st. The transportation company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.07. The firm had revenue of $710.72 million for the quarter, compared to the consensus estimate of $723.69 million. ArcBest had a return on equity of 5.82% and a net margin of 2.11%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 EPS. research analysts forecast that ArcBest Corp will post 2.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Friday, February 9th were issued a $0.08 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. ArcBest’s dividend payout ratio is presently 14.29%.
ARCB has been the topic of a number of research analyst reports. BidaskClub upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. ValuEngine upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Zacks Investment Research upgraded ArcBest from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Tuesday, January 16th. Stifel Nicolaus downgraded ArcBest from a “hold” rating to a “sell” rating and lifted their target price for the company from $27.00 to $32.00 in a research report on Wednesday, December 13th. Finally, Seaport Global Securities restated a “neutral” rating on shares of ArcBest in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $35.88.
COPYRIGHT VIOLATION WARNING: “PEAK6 Investments L.P. Invests $231,000 in ArcBest Corp (ARCB) Stock” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.dispatchtribunal.com/2018/03/17/peak6-investments-l-p-invests-231000-in-arcbest-corp-arcb-stock.html.
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).
Want to see what other hedge funds are holding ARCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ArcBest Corp (NASDAQ:ARCB).
Receive News & Ratings for ArcBest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest and related companies with MarketBeat.com's FREE daily email newsletter.