LSV Asset Management Sells 4,500 Shares of ArcBest Corporation $ARCB

LSV Asset Management trimmed its holdings in ArcBest Corporation (NASDAQ:ARCB) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,049 shares of the transportation company’s stock after selling 4,500 shares during the period. LSV Asset Management’s holdings in ArcBest were worth $36,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Partners Group Holding AG increased its stake in shares of ArcBest by 23.2% in the 2nd quarter. Partners Group Holding AG now owns 147,476 shares of the transportation company’s stock valued at $11,357,000 after purchasing an additional 27,797 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in ArcBest by 23.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 41,971 shares of the transportation company’s stock valued at $3,232,000 after buying an additional 7,955 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of ArcBest during the second quarter worth $355,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ArcBest during the 2nd quarter worth about $1,759,000. Finally, Strs Ohio bought a new stake in ArcBest in the first quarter valued at approximately $473,000. Institutional investors own 99.27% of the company’s stock.

Analysts Set New Price Targets

ARCB has been the subject of several recent analyst reports. Stephens cut ArcBest from an “overweight” rating to an “equal weight” rating and set a $72.00 target price for the company. in a research note on Thursday, November 6th. Zacks Research upgraded shares of ArcBest to a “strong sell” rating in a report on Monday, August 11th. TD Cowen dropped their price objective on ArcBest from $67.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. UBS Group cut their price target on shares of ArcBest from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Finally, Citigroup upgraded shares of ArcBest from a “neutral” rating to a “buy” rating and increased their price objective for the company from $79.00 to $89.00 in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ArcBest has an average rating of “Hold” and an average target price of $85.67.

ArcBest Stock Performance

NASDAQ ARCB opened at $62.75 on Wednesday. The company has a market capitalization of $1.41 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 1.35 and a beta of 1.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. ArcBest Corporation has a 52-week low of $55.19 and a 52-week high of $115.76. The company has a 50-day simple moving average of $70.66 and a 200 day simple moving average of $71.71.

ArcBest (NASDAQ:ARCB) last released its earnings results on Wednesday, November 5th. The transportation company reported $1.46 earnings per share for the quarter, beating 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 firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $1.64 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts predict that ArcBest Corporation will post 7 EPS for the current year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 14th. ArcBest’s dividend payout ratio is 11.40%.

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.