KBC Group NV raised its holdings in shares of ArcBest Co. (NASDAQ:ARCB – Free Report) by 36.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 851 shares of the transportation company’s stock after acquiring an additional 229 shares during the period. KBC Group NV’s holdings in ArcBest were worth $92,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Westwood Holdings Group Inc. lifted its holdings in ArcBest by 34.7% in the second quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after acquiring an additional 150,467 shares during the period. American Century Companies Inc. lifted its stake in shares of ArcBest by 4.0% in the 2nd quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock valued at $56,267,000 after purchasing an additional 20,115 shares during the period. Marshall Wace LLP lifted its stake in shares of ArcBest by 158.7% in the 2nd quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock valued at $20,558,000 after purchasing an additional 117,774 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in ArcBest by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock worth $16,141,000 after buying an additional 1,214 shares in the last quarter. Finally, FAS Wealth Partners Inc. increased its holdings in ArcBest by 86.3% in the second quarter. FAS Wealth Partners Inc. now owns 80,050 shares of the transportation company’s stock valued at $8,572,000 after buying an additional 37,073 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on ARCB shares. Stifel Nicolaus lowered their target price on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. The Goldman Sachs Group lowered their price target on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Wolfe Research cut ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Jefferies Financial Group reduced their price target on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.50.
Insider Buying and Selling
In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the sale, the senior vice president now owns 5,051 shares in the company, valued at $609,150.60. This represents a 67.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.65% of the stock is owned by insiders.
ArcBest Price Performance
Shares of ARCB stock opened at $109.91 on Friday. The firm’s 50-day moving average is $107.02 and its two-hundred day moving average is $108.55. ArcBest Co. has a 12 month low of $94.76 and a 12 month high of $153.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $2.57 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 2.02 and a beta of 1.47.
ArcBest (NASDAQ:ARCB – Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.20). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 earnings per share. Analysts predict that ArcBest Co. will post 6.19 earnings per share for the current year.
ArcBest Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.44%. The ex-dividend date is Wednesday, November 13th. ArcBest’s dividend payout ratio is currently 5.93%.
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.
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