UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ArcBest Corporation (NASDAQ:ARCB – Free Report) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,108 shares of the transportation company’s stock after buying an additional 5,371 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.27% of ArcBest worth $8,628,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC purchased a new position in ArcBest during the 2nd quarter valued at about $743,000. Archer Investment Corp purchased a new stake in ArcBest in the second quarter worth about $310,000. Empowered Funds LLC bought a new position in shares of ArcBest during the second quarter valued at approximately $20,787,000. Public Employees Retirement System of Ohio bought a new position in shares of ArcBest during the second quarter valued at approximately $4,955,000. Finally, Corient Private Wealth LP purchased a new position in shares of ArcBest during the second quarter valued at approximately $1,545,000. 99.27% of the stock is currently owned by institutional investors.
ArcBest Price Performance
ARCB opened at $141.12 on Tuesday. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 204.52, a PEG ratio of 0.46 and a beta of 1.55. The firm has a 50 day moving average price of $143.67 and a 200-day moving average price of $127.50. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $176.69. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10.
ArcBest Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, August 7th. ArcBest’s dividend payout ratio (DPR) is 69.57%.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Stephens raised ArcBest to a “strong-buy” rating in a research report on Wednesday, July 8th. Zacks Research cut ArcBest from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Stifel Nicolaus boosted their target price on ArcBest from $134.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Morgan Stanley boosted their target price on ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a report on Tuesday, August 25th. One investment 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $154.23.
Get Our Latest Stock Analysis on ARCB
Insider Buying and Selling at ArcBest
In other ArcBest news, Director Judy R. Mcreynolds sold 2,857 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was 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 approximately $6,955,671.04. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Erin K. Gattis sold 6,163 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total value of $862,820.00. Following the completion of the transaction, the insider directly owned 24,286 shares in the company, valued at $3,400,040. The trade was a 20.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,963 shares of company stock valued at $1,678,066 in the last ninety days. 0.98% of the stock is currently owned by corporate insiders.
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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