Intech Investment Management LLC lessened its position in ArcBest Corporation (NASDAQ:ARCB – Free Report) by 40.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,337 shares of the transportation company’s stock after selling 7,023 shares during the quarter. Intech Investment Management LLC’s holdings in ArcBest were worth $767,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after acquiring an additional 934 shares during the period. ProShare Advisors LLC raised its holdings in ArcBest by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock worth $329,000 after acquiring an additional 135 shares during the period. Stephens Inc. AR raised its holdings in ArcBest by 2.2% in the 4th quarter. Stephens Inc. AR now owns 6,909 shares of the transportation company’s stock worth $535,000 after acquiring an additional 150 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in ArcBest by 19,008.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 122,292 shares of the transportation company’s stock worth $9,073,000 after acquiring an additional 121,652 shares during the period. Finally, Seelaus Asset Management LLC raised its holdings in ArcBest by 3.5% in the 4th quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock worth $275,000 after acquiring an additional 125 shares during the period. Institutional investors own 99.27% of the company’s stock.
ArcBest Price Performance
Shares of ArcBest stock opened at $166.22 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50-day simple moving average is $120.36 and its 200-day simple moving average is $98.58. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $167.58. The firm has a market cap of $3.70 billion, a P/E ratio of 68.40, a price-to-earnings-growth ratio of 0.84 and a beta of 1.55.
ArcBest Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, May 8th. ArcBest’s payout ratio is 19.75%.
Analysts Set New Price Targets
ARCB has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Wells Fargo & Company lifted their target price on shares of ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday. Stifel Nicolaus lifted their target price on shares of ArcBest from $116.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Citigroup lifted their target price on shares of ArcBest from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, TD Cowen lifted their target price on shares of ArcBest from $97.00 to $137.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.92.
Read Our Latest Stock Report on ARCB
ArcBest Profile
ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.
The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.
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