Rhumbline Advisers Purchases 3,278 Shares of ArcBest Co. (NASDAQ:ARCB)

Rhumbline Advisers boosted its position in ArcBest Co. (NASDAQ:ARCB) by 5.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 67,079 shares of the transportation company’s stock after purchasing an additional 3,278 shares during the period. Rhumbline Advisers’ holdings in ArcBest were worth $6,260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC grew its holdings in shares of ArcBest by 3.5% in the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock worth $272,000 after purchasing an additional 86 shares during the last quarter. Avior Wealth Management LLC boosted its position in ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after buying an additional 95 shares during the period. Nisa Investment Advisors LLC grew its holdings in ArcBest by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock worth $350,000 after acquiring an additional 124 shares during the last quarter. Stephens Inc. AR grew its position in shares of ArcBest by 2.1% in the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company’s stock worth $758,000 after buying an additional 170 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of ArcBest by 4.9% during the third quarter. Empowered Funds LLC now owns 3,695 shares of the transportation company’s stock valued at $401,000 after buying an additional 173 shares during the period. 99.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ARCB shares. JPMorgan Chase & Co. cut their price target on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. UBS Group reduced their price target on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Citigroup raised their price objective on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Stifel Nicolaus upped 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. Finally, Morgan Stanley lowered their price target on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. One 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. According to data from MarketBeat, ArcBest has an average rating of “Hold” and a consensus price target of $118.91.

ArcBest Price Performance

Shares of NASDAQ:ARCB opened at $80.65 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.51. The business has a 50-day simple moving average of $95.01 and a two-hundred day simple moving average of $102.86. ArcBest Co. has a fifty-two week low of $80.12 and a fifty-two week high of $153.60.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate 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 business earned $2.47 earnings per share. On average, analysts expect that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. ArcBest’s dividend payout ratio (DPR) is currently 6.55%.

About ArcBest

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.