Mercer Global Advisors Inc. ADV Sells 1,258 Shares of ArcBest Co. (NASDAQ:ARCB)

Mercer Global Advisors Inc. ADV lessened its stake in shares of ArcBest Co. (NASDAQ:ARCB – Get Rating) by 24.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,941 shares of the transportation company’s stock after selling 1,258 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in ArcBest were worth $276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ARCB. Sigma Planning Corp purchased a new position in ArcBest during the third quarter valued at approximately $208,000. Pacer Advisors Inc. grew its holdings in ArcBest by 66.5% in the fourth quarter. Pacer Advisors Inc. now owns 298,102 shares of the transportation company’s stock worth $20,879,000 after purchasing an additional 119,068 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in ArcBest by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 10,223 shares of the transportation company’s stock worth $716,000 after purchasing an additional 137 shares during the last quarter. Cambria Investment Management L.P. grew its holdings in ArcBest by 82.9% in the third quarter. Cambria Investment Management L.P. now owns 11,584 shares of the transportation company’s stock worth $843,000 after purchasing an additional 5,249 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new position in ArcBest in the fourth quarter worth $2,151,000. Institutional investors own 88.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARCB. StockNews.com started coverage on shares of ArcBest in a research report on Thursday, May 18th. They set a “hold” rating for the company. Citigroup boosted their target price on shares of ArcBest from $90.00 to $116.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Bank of America cut shares of ArcBest from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $101.00 to $91.00 in a research note on Monday, May 1st. Morgan Stanley dropped their price objective on shares of ArcBest from $138.00 to $136.00 and set an “overweight” rating for the company in a research note on Tuesday, April 4th. Finally, Stifel Nicolaus dropped their price objective on shares of ArcBest from $114.00 to $113.00 in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $116.25.

ArcBest Trading Up 3.2 %

Shares of NASDAQ:ARCB opened at $87.19 on Friday. ArcBest Co. has a 52 week low of $66.35 and a 52 week high of $104.87. The company’s 50 day moving average is $90.04 and its two-hundred day moving average is $86.38. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.09 billion, a PE ratio of 7.38 and a beta of 1.56.

ArcBest (NASDAQ:ARCB – Get Rating) last posted its earnings results on Friday, April 28th. The transportation company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.55). The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.16 billion. ArcBest had a net margin of 5.89% and a return on equity of 27.05%. The company’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period last year, the business earned $3.08 earnings per share. Equities analysts predict that ArcBest Co. will post 8.67 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Tuesday, May 9th. ArcBest’s dividend payout ratio is currently 4.06%.

ArcBest Profile

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ArcBest Corp. is a logistics company which provides end-to-end supply chain services with a focus on innovation. It operates through the following business segments: Asset-Based, ArcBest and FleetNet. The Asset-Based segment includes national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services.