John G Ullman & Associates Inc. Lowers Holdings in ArcBest Co. (NASDAQ:ARCB)

John G Ullman & Associates Inc. cut its position in ArcBest Co. (NASDAQ:ARCB) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,750 shares of the transportation company’s stock after selling 350 shares during the quarter. John G Ullman & Associates Inc.’s holdings in ArcBest were worth $2,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ARCB. Vanguard Group Inc. raised its position in shares of ArcBest by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 2,714,834 shares of the transportation company’s stock valued at $218,544,000 after buying an additional 55,946 shares in the last quarter. State Street Corp raised its position in shares of ArcBest by 6.3% during the 1st quarter. State Street Corp now owns 1,067,783 shares of the transportation company’s stock valued at $85,957,000 after buying an additional 63,476 shares in the last quarter. Morgan Stanley raised its position in shares of ArcBest by 2.3% during the 4th quarter. Morgan Stanley now owns 568,392 shares of the transportation company’s stock valued at $39,810,000 after buying an additional 12,534 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ArcBest by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 516,478 shares of the transportation company’s stock valued at $47,733,000 after buying an additional 2,885 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of ArcBest by 9.4% during the 3rd quarter. Northern Trust Corp now owns 458,090 shares of the transportation company’s stock valued at $46,565,000 after buying an additional 39,215 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Trading Up 1.3 %

ArcBest stock traded up $1.79 during trading hours on Friday, reaching $138.03. The stock had a trading volume of 301,782 shares, compared to its average volume of 303,132. The company has a fifty day simple moving average of $140.66 and a 200-day simple moving average of $123.38. The stock has a market cap of $3.24 billion, a PE ratio of 17.22, a PEG ratio of 0.60 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26. ArcBest Co. has a 52 week low of $82.18 and a 52 week high of $153.60.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the company posted $2.45 EPS. ArcBest’s revenue was down 6.4% on a year-over-year basis. Analysts forecast that ArcBest Co. will post 10.05 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.48 annualized dividend and a dividend yield of 0.35%. ArcBest’s payout ratio is 6.07%.

Analyst Ratings Changes

ARCB has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a research report on Monday, January 29th. They set a “buy” rating and a $148.00 price objective on the stock. Bank of America increased their target price on shares of ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a report on Monday. Morgan Stanley increased their target price on shares of ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Stephens increased their target price on shares of ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group increased their target price on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.54.

Insider Activity

In related news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the sale, the insider now directly owns 32,247 shares in the company, valued at $4,565,530.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.65% of the stock is owned by corporate insiders.

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.