Inspire Investing LLC grew its position in ArcBest Corporation (NASDAQ:ARCB – Free Report) by 281.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,903 shares of the transportation company’s stock after purchasing an additional 17,633 shares during the quarter. Inspire Investing LLC owned approximately 0.11% of ArcBest worth $2,351,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in ARCB. Vanguard Group Inc. raised its stake in ArcBest by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company’s stock worth $181,852,000 after acquiring an additional 6,808 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ArcBest by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,349,439 shares of the transportation company’s stock valued at $100,117,000 after purchasing an additional 7,816 shares during the last quarter. Invesco Ltd. increased its holdings in shares of ArcBest by 625.4% in the fourth quarter. Invesco Ltd. now owns 920,498 shares of the transportation company’s stock valued at $68,292,000 after purchasing an additional 793,607 shares during the period. American Century Companies Inc. increased its holdings in shares of ArcBest by 9.6% in the third quarter. American Century Companies Inc. now owns 817,091 shares of the transportation company’s stock valued at $57,090,000 after purchasing an additional 71,420 shares during the period. Finally, Turtle Creek Asset Management Inc. purchased a new stake in shares of ArcBest during the third quarter worth approximately $39,508,000. Institutional investors and hedge funds own 99.27% of the company’s stock.
ArcBest Trading Down 1.6%
Shares of ARCB stock opened at $143.54 on Wednesday. The stock has a market cap of $3.20 billion, a P/E ratio of 59.07, a P/E/G ratio of 0.66 and a beta of 1.55. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $176.69. The business has a fifty day simple moving average of $136.06 and a 200-day simple moving average of $108.49.
ArcBest Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a $0.12 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. ArcBest’s dividend payout ratio is currently 19.75%.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of ArcBest from $98.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Truist Financial upped their price objective on shares of ArcBest from $95.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group raised their target price on shares of ArcBest from $117.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Citigroup boosted their price target on shares of ArcBest from $150.00 to $202.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Finally, Weiss Ratings cut shares of ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.42.
Get Our Latest Stock Analysis on ARCB
ArcBest Company 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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