D L Carlson Investment Group Inc. acquired a new stake in ArcBest Corporation (NASDAQ:ARCB – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 20,742 shares of the transportation company’s stock, valued at approximately $2,977,000. D L Carlson Investment Group Inc. owned 0.09% of ArcBest as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of ARCB. Federated Hermes Inc. raised its position in ArcBest by 126.6% during the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after acquiring an additional 567 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in ArcBest in the 2nd quarter worth approximately $85,000. Hantz Financial Services Inc. grew its stake in shares of ArcBest by 507.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after purchasing an additional 934 shares during the period. Assetmark Inc. grew its stake in shares of ArcBest by 5,940.0% during the 4th quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock worth $90,000 after purchasing an additional 1,188 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of ArcBest by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock valued at $175,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.
ArcBest Stock Performance
NASDAQ:ARCB opened at $135.89 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97. The company has a fifty day moving average of $146.86 and a two-hundred day moving average of $124.83. The stock has a market capitalization of $3.04 billion, a PE ratio of 196.94, a P/E/G ratio of 0.45 and a beta of 1.57. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $176.69.
ArcBest Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, August 7th. ArcBest’s payout ratio is presently 69.57%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on ARCB shares. Weiss Ratings cut shares of ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 28th. Truist Financial lifted their price objective on shares of ArcBest from $145.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Zacks Research downgraded shares of ArcBest from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. increased their target price on shares of ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Finally, Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $154.23.
Check Out Our Latest Analysis on ArcBest
Insider Activity
In other ArcBest news, insider Erin K. Gattis sold 6,163 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total transaction of $862,820.00. Following the completion of the sale, the insider directly owned 24,286 shares in the company, valued at approximately $3,400,040. The trade was a 20.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Judy R. Mcreynolds sold 2,857 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $138.98, for a total value of $397,065.86. Following the transaction, the director directly owned 50,048 shares of the company’s stock, valued at $6,955,671.04. The trade was a 5.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,963 shares of company stock worth $1,678,066. 0.98% of the stock is currently owned by insiders.
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.
Featured Stories
- Five stocks we like better than ArcBest
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
Receive News & Ratings for ArcBest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest and related companies with MarketBeat.com's FREE daily email newsletter.
