ArcBest Corporation (ARCB) to Issue Quarterly Dividend of $0.12 on November 28th

ArcBest Corporation (NASDAQ:ARCB) announced a quarterly dividend on Friday, October 31st. Shareholders of record on Friday, November 14th will be given a dividend of 0.12 per share by the transportation company on Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 14th.

ArcBest has raised its dividend payment by an average of 0.1%per year over the last three years. ArcBest has a dividend payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ArcBest to earn $9.97 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 4.8%.

ArcBest Stock Up 0.3%

Shares of ArcBest stock traded up $0.19 on Wednesday, reaching $65.84. 98,081 shares of the company were exchanged, compared to its average volume of 354,730. The stock’s 50 day moving average price is $71.65 and its 200-day moving average price is $71.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. ArcBest has a 1-year low of $55.19 and a 1-year high of $118.28. The company has a market cap of $1.48 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 1.35 and a beta of 1.67.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Wednesday, November 5th. The transportation company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities analysts forecast that ArcBest will post 7 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas raised its holdings in shares of ArcBest by 73.3% in the first quarter. Teacher Retirement System of Texas now owns 5,529 shares of the transportation company’s stock valued at $390,000 after buying an additional 2,339 shares during the last quarter. Principal Financial Group Inc. increased its position in ArcBest by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 116,304 shares of the transportation company’s stock valued at $8,209,000 after acquiring an additional 2,115 shares during the period. Envestnet Asset Management Inc. raised its stake in ArcBest by 7.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 40,522 shares of the transportation company’s stock valued at $2,860,000 after acquiring an additional 2,925 shares during the last quarter. Stephens Inc. AR raised its stake in ArcBest by 5.1% during the 1st quarter. Stephens Inc. AR now owns 8,540 shares of the transportation company’s stock valued at $603,000 after acquiring an additional 412 shares during the last quarter. Finally, CWM LLC lifted its position in ArcBest by 338.8% during the 1st quarter. CWM LLC now owns 452 shares of the transportation company’s stock worth $32,000 after acquiring an additional 349 shares during the period. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.