Vanguard Group Inc. Has $258.60 Million Position in ArcBest Co. (NASDAQ:ARCB)

Vanguard Group Inc. grew its position in ArcBest Co. (NASDAQ:ARCB) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,771,123 shares of the transportation company’s stock after purchasing an additional 20,665 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of ArcBest worth $258,601,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of ArcBest by 29.3% in the third quarter. BNP Paribas Financial Markets now owns 12,521 shares of the transportation company’s stock valued at $1,358,000 after purchasing an additional 2,839 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in ArcBest by 16.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after acquiring an additional 16,103 shares during the last quarter. Centiva Capital LP bought a new stake in shares of ArcBest in the 3rd quarter worth $552,000. Holocene Advisors LP bought a new position in shares of ArcBest during the third quarter valued at about $808,000. Finally, State Street Corp grew its position in ArcBest by 1.9% in the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after purchasing an additional 17,542 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

Insider Activity at ArcBest

In other ArcBest news, CFO John Matthew Beasley acquired 700 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $74.89 per share, with a total value of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares of the company’s stock, valued at approximately $609,754.38. This represents a 9.41 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup dropped their target price on shares of ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. UBS Group cut their price objective on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Truist Financial initiated coverage on ArcBest in a research report on Thursday, March 13th. They set a “buy” rating and a $93.00 target price for the company. Bank of America cut their price target on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company decreased their price objective on shares of ArcBest from $96.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ArcBest has a consensus rating of “Hold” and a consensus price target of $107.00.

ArcBest Trading Down 1.0 %

NASDAQ:ARCB opened at $63.63 on Friday. ArcBest Co. has a 1 year low of $57.80 and a 1 year high of $153.61. The stock’s fifty day moving average price is $81.99 and its two-hundred day moving average price is $96.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The company has a market cap of $1.47 billion, a P/E ratio of 8.68, a P/E/G ratio of 1.70 and a beta of 1.55.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data 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 return on equity of 11.79% and a net margin of 4.16%. During the same quarter last year, the business posted $2.47 EPS. As a group, analysts expect that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given 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 0.75%. ArcBest’s dividend payout ratio (DPR) 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.