Mutual of America Capital Management LLC Has $6.75 Million Stake in ArcBest Co. (NASDAQ:ARCB)

Mutual of America Capital Management LLC lowered its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,217 shares of the transportation company’s stock after selling 1,182 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ArcBest were worth $6,747,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. ProShare Advisors LLC raised its holdings in ArcBest by 7.1% during the 1st quarter. ProShare Advisors LLC now owns 4,957 shares of the transportation company’s stock worth $706,000 after buying an additional 330 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of ArcBest by 13.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 7,848 shares of the transportation company’s stock worth $1,118,000 after acquiring an additional 960 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of ArcBest by 19.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,231 shares of the transportation company’s stock worth $460,000 after acquiring an additional 529 shares during the period. Seven Eight Capital LP bought a new stake in ArcBest in the 1st quarter valued at $290,000. Finally, UniSuper Management Pty Ltd acquired a new position in ArcBest in the 1st quarter worth $666,000. Institutional investors own 99.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ARCB shares. Wolfe Research downgraded ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Stephens restated an “overweight” rating and issued a $130.00 target price on shares of ArcBest in a research note on Wednesday, September 4th. Citigroup raised their price target on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group cut their price objective on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Bank of America decreased their target price on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $124.50.

ArcBest Stock Down 0.1 %

ArcBest stock opened at $108.25 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50-day moving average is $106.31 and its 200-day moving average is $108.64. The firm has a market capitalization of $2.53 billion, a PE ratio of 13.36, a P/E/G ratio of 2.03 and a beta of 1.47. ArcBest Co. has a fifty-two week low of $94.76 and a fifty-two week high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $2.31 EPS. ArcBest’s quarterly revenue was down 5.8% compared to the same quarter last year. Sell-side analysts anticipate that ArcBest Co. will post 6.19 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Wednesday, November 13th. ArcBest’s dividend payout ratio is 5.93%.

Insiders Place Their Bets

In other news, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total value of $1,259,425.80. Following the transaction, the senior vice president now directly owns 5,051 shares of the company’s stock, valued at $609,150.60. This represents a 67.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.65% of the company’s stock.

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.