Glenmede Trust Co. NA Has $609,000 Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

Glenmede Trust Co. NA increased its holdings in ArcBest Co. (NASDAQ:ARCB) by 25.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,611 shares of the transportation company’s stock after purchasing an additional 1,144 shares during the period. Glenmede Trust Co. NA’s holdings in ArcBest were worth $609,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ARCB. Westwood Holdings Group Inc. raised its position in ArcBest by 34.7% in the second quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock worth $62,509,000 after purchasing an additional 150,467 shares in the last quarter. Marshall Wace LLP grew its stake in ArcBest by 158.7% during the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock worth $20,558,000 after buying an additional 117,774 shares during the last quarter. Emerald Advisers LLC bought a new stake in ArcBest during the second quarter worth about $6,812,000. Mutual of America Capital Management LLC grew its stake in ArcBest by 1,455.0% during the second quarter. Mutual of America Capital Management LLC now owns 63,399 shares of the transportation company’s stock worth $6,789,000 after buying an additional 59,322 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in ArcBest during the second quarter worth about $5,630,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Insiders Place Their Bets

In related news, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the sale, the director now directly owns 23,250 shares in the company, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction on 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 approximately $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

ArcBest Price Performance

Shares of ARCB stock opened at $108.83 on Wednesday. ArcBest Co. has a 52-week low of $94.76 and a 52-week high of $153.60. The stock has a market cap of $2.55 billion, a PE ratio of 13.44, a PEG ratio of 2.08 and a beta of 1.49. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average price is $107.41 and its two-hundred day moving average price is $108.19.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. ArcBest’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.31 earnings per share. As a group, analysts forecast that ArcBest Co. will post 6.19 EPS for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.12 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.48 annualized dividend and a yield of 0.44%. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

Analysts Set New Price Targets

ARCB has been the topic of several research analyst reports. TD Cowen cut shares of ArcBest from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. UBS Group decreased their price objective on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company decreased their price objective on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group decreased their price objective on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, Bank of America decreased their price target on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.50.

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.