Illinois Municipal Retirement Fund Takes $1.42 Million Position in ArcBest Co. (NASDAQ:ARCB)

Illinois Municipal Retirement Fund purchased a new stake in ArcBest Co. (NASDAQ:ARCBFree Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,964 shares of the transportation company’s stock, valued at approximately $1,419,000. Illinois Municipal Retirement Fund owned approximately 0.06% of ArcBest as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. Orion Portfolio Solutions LLC bought a new position in shares of ArcBest during the 3rd quarter worth approximately $270,000. Allworth Financial LP raised its stake in shares of ArcBest by 15,450.0% during the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after acquiring an additional 309 shares in the last quarter. Kendall Capital Management raised its stake in shares of ArcBest by 6.7% during the 3rd quarter. Kendall Capital Management now owns 3,655 shares of the transportation company’s stock worth $372,000 after acquiring an additional 230 shares in the last quarter. AlphaMark Advisors LLC bought a new position in shares of ArcBest during the 3rd quarter worth approximately $227,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of ArcBest by 175.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 195,270 shares of the transportation company’s stock worth $19,849,000 after acquiring an additional 124,354 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

ArcBest Stock Down 0.7 %

ARCB stock opened at $122.40 on Wednesday. The firm’s fifty day simple moving average is $117.80 and its 200-day simple moving average is $110.46. The company has a market capitalization of $2.90 billion, a P/E ratio of 16.59 and a beta of 1.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.33 and a quick ratio of 1.33. ArcBest Co. has a 12 month low of $78.37 and a 12 month high of $125.48.

Insider Activity

In related news, Director Janice E. Stipp sold 3,390 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $122.42, for a total value of $415,003.80. Following the completion of the transaction, the director now directly owns 17,710 shares in the company, valued at approximately $2,168,058.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.65% of the company’s stock.

Analyst Ratings Changes

ARCB has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a research note on Monday. They set a “buy” rating and a $148.00 price objective for the company. Bank of America dropped their target price on shares of ArcBest from $110.00 to $108.00 and set an “underperform” rating on the stock in a research report on Monday, October 9th. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Stifel Nicolaus boosted their target price on shares of ArcBest from $136.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Morgan Stanley boosted their target price on shares of ArcBest from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.73.

Read Our Latest Analysis on ARCB

ArcBest Company Profile

(Free Report)

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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