ArcBest Co. (NASDAQ:ARCB) Shares Sold by Amundi

Amundi lessened its stake in ArcBest Co. (NASDAQ:ARCB) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 127,622 shares of the transportation company’s stock after selling 1,663 shares during the quarter. Amundi’s holdings in ArcBest were worth $12,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARCB. JPMorgan Chase & Co. increased its stake in ArcBest by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after acquiring an additional 43,707 shares during the last quarter. Barclays PLC increased its stake in ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after acquiring an additional 33,386 shares during the last quarter. Partners Group Holding AG increased its stake in ArcBest by 51.5% during the third quarter. Partners Group Holding AG now owns 87,842 shares of the transportation company’s stock worth $9,526,000 after acquiring an additional 29,849 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in ArcBest by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock worth $44,927,000 after acquiring an additional 21,905 shares during the last quarter. Finally, Citigroup Inc. increased its stake in ArcBest by 91.1% during the third quarter. Citigroup Inc. now owns 45,313 shares of the transportation company’s stock worth $4,914,000 after acquiring an additional 21,606 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Insiders Place Their Bets

In other news, CFO John Matthew Beasley bought 700 shares of ArcBest stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $74.89 per share, with a total value of $52,423.00. Following the acquisition, the chief financial officer now owns 8,142 shares of the company’s stock, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.65% of the stock is owned by company insiders.

ArcBest Stock Up 0.4 %

Shares of NASDAQ ARCB opened at $73.35 on Friday. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The business has a 50-day moving average of $90.03 and a two-hundred day moving average of $100.02. ArcBest Co. has a 1 year low of $70.96 and a 1 year high of $153.61.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the prior year, the business posted $2.47 earnings per share. On average, analysts forecast that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is 6.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ARCB shares. Stephens reaffirmed an “overweight” rating and issued a $116.00 price objective on shares of ArcBest in a research note on Tuesday. Stifel Nicolaus lifted their price objective on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company dropped their price objective on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. UBS Group dropped their price objective on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, Morgan Stanley dropped their price objective on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $108.33.

ArcBest Company Profile

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.