Chicago Equity Partners LLC lifted its position in ArcBest Corp (NASDAQ:ARCB) by 15.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 250,675 shares of the transportation company’s stock after acquiring an additional 33,165 shares during the quarter. Chicago Equity Partners LLC’s holdings in ArcBest were worth $12,170,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in ARCB. Principal Financial Group Inc. lifted its holdings in shares of ArcBest by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 196,543 shares of the transportation company’s stock worth $6,299,000 after acquiring an additional 4,697 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of ArcBest by 3.2% in the 1st quarter. Legal & General Group Plc now owns 48,099 shares of the transportation company’s stock worth $1,531,000 after acquiring an additional 1,503 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of ArcBest in the 1st quarter worth about $537,000. Xact Kapitalforvaltning AB bought a new stake in shares of ArcBest in the 2nd quarter worth about $219,000. Finally, Foundry Partners LLC increased its stake in ArcBest by 9.8% in the 2nd quarter. Foundry Partners LLC now owns 199,441 shares of the transportation company’s stock worth $9,114,000 after buying an additional 17,757 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.
ARCB stock opened at $41.57 on Friday. The stock has a market capitalization of $1.07 billion, a P/E ratio of 12.71, a P/E/G ratio of 0.32 and a beta of 2.26. ArcBest Corp has a 12 month low of $29.40 and a 12 month high of $51.45. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.30.
ArcBest (NASDAQ:ARCB) last posted its earnings results on Thursday, November 1st. The transportation company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.32. The business had revenue of $826.20 million for the quarter, compared to the consensus estimate of $815.82 million. ArcBest had a net margin of 2.92% and a return on equity of 13.19%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. On average, equities research analysts expect that ArcBest Corp will post 3.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Tuesday, November 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 9th. ArcBest’s dividend payout ratio (DPR) is 24.06%.
Several research analysts recently commented on ARCB shares. Wolfe Research downgraded shares of ArcBest from a “peer perform” rating to an “underperform” rating in a research note on Friday, October 5th. BidaskClub raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $46.00 price target on shares of ArcBest in a research note on Friday, August 3rd. Cowen raised their price target on shares of ArcBest from $41.00 to $46.00 and gave the stock a “market perform” rating in a research note on Thursday, August 2nd. Finally, Bank of America raised their price target on shares of ArcBest from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $44.33.
ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.
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