ArcBest Co. (NASDAQ:ARCB) Stake Increased by Marshall Wace LLP

Marshall Wace LLP boosted its stake in ArcBest Co. (NASDAQ:ARCB) by 158.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,987 shares of the transportation company’s stock after acquiring an additional 117,774 shares during the period. Marshall Wace LLP’s holdings in ArcBest were worth $20,558,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of ArcBest in the 4th quarter worth about $9,298,000. Trexquant Investment LP bought a new stake in ArcBest in the fourth quarter valued at about $1,054,000. Franklin Resources Inc. raised its stake in ArcBest by 26.0% during the fourth quarter. Franklin Resources Inc. now owns 7,772 shares of the transportation company’s stock valued at $934,000 after buying an additional 1,602 shares in the last quarter. US Bancorp DE raised its stake in ArcBest by 25.1% during the fourth quarter. US Bancorp DE now owns 11,707 shares of the transportation company’s stock valued at $1,407,000 after buying an additional 2,351 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after buying an additional 114 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

Insider Activity at ArcBest

In related news, Director Salvatore A. Abbate purchased 1,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $103.93 per share, for a total transaction of $103,930.00. Following the transaction, the director now owns 3,650 shares of the company’s stock, valued at $379,344.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.65% of the stock is currently owned by insiders.

ArcBest Stock Performance

ARCB opened at $107.84 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $109.08 and its 200-day moving average is $116.97. The stock has a market cap of $2.53 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. ArcBest Co. has a twelve month low of $86.93 and a twelve month high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $1.54 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. On average, analysts predict that ArcBest Co. will post 7.21 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.45%. The ex-dividend date was Tuesday, August 13th. ArcBest’s payout ratio is currently 9.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ARCB shares. Stephens reissued an “overweight” rating and set a $130.00 price target on shares of ArcBest in a research report on Wednesday, September 4th. Bank of America dropped their target price on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley decreased their price target on shares of ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Monday, July 8th. TD Cowen dropped their price objective on shares of ArcBest from $136.00 to $131.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, Wells Fargo & Company downgraded ArcBest from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $122.00 to $112.00 in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $133.18.

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.