Quantbot Technologies LP Has $1.55 Million Stock Position in ArcBest Co. (NASDAQ:ARCB)

Quantbot Technologies LP increased its position in shares of ArcBest Co. (NASDAQ:ARCB) by 38.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,590 shares of the transportation company’s stock after acquiring an additional 4,648 shares during the quarter. Quantbot Technologies LP’s holdings in ArcBest were worth $1,548,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its stake in ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 177 shares during the period. R Squared Ltd acquired a new position in ArcBest during the fourth quarter valued at $40,000. Quest Partners LLC lifted its stake in ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after acquiring an additional 206 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in ArcBest by 471.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 453 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of ArcBest by 17.9% in the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

Shares of ArcBest stock opened at $74.47 on Tuesday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 1.70 and a beta of 1.54. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. ArcBest Co. has a 1-year low of $68.83 and a 1-year high of $153.61. The firm has a fifty day simple moving average of $87.37 and a 200-day simple moving average of $98.62.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 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 period last year, the firm earned $2.47 EPS. On average, sell-side analysts expect that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. ArcBest’s dividend payout ratio is 6.55%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Citigroup lowered their price objective on shares of ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Bank of America dropped their price target on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley lowered their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus raised their price target on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Stephens reiterated an “overweight” rating and set a $116.00 price target on shares of ArcBest in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, ArcBest currently has an average rating of “Hold” and a consensus price target of $108.33.

Insider Transactions at ArcBest

In related news, CFO John Matthew Beasley bought 700 shares of ArcBest stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. This represents a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.65% of the stock is currently owned by corporate insiders.

ArcBest 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.