New York State Teachers Retirement System Sells 123 Shares of ArcBest Co. (NASDAQ:ARCB)

New York State Teachers Retirement System lessened its position in ArcBest Co. (NASDAQ:ARCB) by 0.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 37,743 shares of the transportation company’s stock after selling 123 shares during the period. New York State Teachers Retirement System’s holdings in ArcBest were worth $3,522,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ARCB. Blue Trust Inc. grew its holdings in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after acquiring an additional 177 shares during the last quarter. R Squared Ltd bought a new stake in ArcBest in the 4th quarter worth $40,000. Quest Partners LLC grew its holdings in ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after acquiring an additional 206 shares during the last quarter. Avior Wealth Management LLC grew its holdings in ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after acquiring an additional 95 shares during the last quarter. Finally, KBC Group NV grew its holdings in ArcBest by 36.8% in the 3rd quarter. KBC Group NV now owns 851 shares of the transportation company’s stock worth $92,000 after acquiring an additional 229 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

Analyst Ratings Changes

ARCB has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Stifel Nicolaus raised their target price on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Citigroup raised their target price on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their target price on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group dropped their target price on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $118.91.

ArcBest Trading Down 4.7 %

Shares of NASDAQ ARCB opened at $85.27 on Friday. ArcBest Co. has a 1 year low of $81.44 and a 1 year high of $153.60. The stock has a market cap of $2.00 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 1.82 and a beta of 1.51. The firm has a 50-day moving average of $95.88 and a 200 day moving average of $103.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter in the previous year, the company posted $2.47 earnings per share. As a group, sell-side analysts expect that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. ArcBest’s dividend payout ratio is currently 6.55%.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.