Prelude Capital Management LLC Acquires 22,559 Shares of ArcBest Co. (NASDAQ:ARCB)

Prelude Capital Management LLC increased its holdings in shares of ArcBest Co. (NASDAQ:ARCBGet Rating) by 208.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,407 shares of the transportation company’s stock after acquiring an additional 22,559 shares during the quarter. Prelude Capital Management LLC owned about 0.14% of ArcBest worth $2,689,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Stephens Inc. AR increased its holdings in ArcBest by 46.9% in the 1st quarter. Stephens Inc. AR now owns 18,287 shares of the transportation company’s stock valued at $1,472,000 after buying an additional 5,840 shares during the period. Aigen Investment Management LP bought a new position in ArcBest in the 1st quarter valued at about $650,000. Navellier & Associates Inc. bought a new position in ArcBest in the 4th quarter valued at about $1,292,000. State of Tennessee Treasury Department increased its holdings in ArcBest by 7.6% in the 1st quarter. State of Tennessee Treasury Department now owns 20,742 shares of the transportation company’s stock valued at $1,670,000 after buying an additional 1,461 shares during the period. Finally, SummerHaven Investment Management LLC increased its holdings in ArcBest by 4.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 14,371 shares of the transportation company’s stock valued at $1,157,000 after buying an additional 607 shares during the period. 88.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ARCB. Cowen decreased their target price on shares of ArcBest to $127.00 in a report on Tuesday, August 9th. Stifel Nicolaus reduced their price target on shares of ArcBest from $143.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, August 2nd. Credit Suisse Group reduced their price target on shares of ArcBest from $112.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley reduced their price target on shares of ArcBest to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 18th. Finally, StockNews.com downgraded shares of ArcBest from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.33.

ArcBest Stock Up 1.2 %

NASDAQ:ARCB opened at $76.36 on Friday. The firm’s 50 day simple moving average is $82.45 and its 200 day simple moving average is $79.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25. ArcBest Co. has a one year low of $65.15 and a one year high of $125.00. The company has a market cap of $1.87 billion, a PE ratio of 6.62, a P/E/G ratio of 0.20 and a beta of 1.61.

ArcBest (NASDAQ:ARCBGet Rating) last posted its earnings results on Friday, July 29th. The transportation company reported $4.30 EPS for the quarter, topping the consensus estimate of $3.91 by $0.39. ArcBest had a net margin of 6.11% and a return on equity of 33.83%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company earned $1.97 EPS. The firm’s revenue was up 46.8% compared to the same quarter last year. On average, research analysts anticipate that ArcBest Co. will post 14.36 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 9th. This represents a $0.48 annualized dividend and a yield of 0.63%. ArcBest’s payout ratio is 4.16%.

Insiders Place Their Bets

In other ArcBest news, CEO Judy R. Mcreynolds sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $88.77, for a total transaction of $2,219,250.00. Following the completion of the transaction, the chief executive officer now owns 55,060 shares in the company, valued at approximately $4,887,676.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.68% of the company’s stock.

ArcBest Company Profile

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ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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