Charles Schwab Investment Management Inc. Purchases 11,894 Shares of ArcBest Co. (NASDAQ:ARCB)

Charles Schwab Investment Management Inc. increased its position in shares of ArcBest Co. (NASDAQ:ARCB) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 426,155 shares of the transportation company’s stock after buying an additional 11,894 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ArcBest were worth $39,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV raised its position in shares of 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 in the last quarter. OneDigital Investment Advisors LLC increased its holdings in 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 in the last quarter. Empowered Funds LLC lifted its stake in ArcBest by 4.9% in 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. Natixis Advisors LLC lifted its stake in ArcBest by 13.5% in the third quarter. Natixis Advisors LLC now owns 15,988 shares of the transportation company’s stock valued at $1,734,000 after buying an additional 1,902 shares during the period. Finally, Quest Partners LLC grew its position in shares of ArcBest by 60.6% during the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after buying an additional 206 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Trading Up 0.4 %

NASDAQ ARCB opened at $73.35 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $90.03 and a 200 day simple moving average of $99.98. ArcBest Co. has a 12 month low of $70.96 and a 12 month high of $153.61. The firm has a market capitalization of $1.70 billion, a P/E ratio of 10.01, a PEG ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the business posted $2.47 earnings per share. On average, analysts predict that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders 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 annualized dividend and a yield of 0.65%. ArcBest’s dividend payout ratio is currently 6.55%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ARCB shares. UBS Group dropped their target price on shares of 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 assumed coverage on shares of ArcBest in a report on Thursday. They set a “buy” rating and a $93.00 price objective on the stock. The Goldman Sachs Group reduced their target price on ArcBest from $126.00 to $108.00 and set a “neutral” rating for the company in a research note on Friday. Stifel Nicolaus upped their price target on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Stephens reissued an “overweight” rating and issued a $116.00 price objective on shares of ArcBest in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $108.33.

Insider Buying and Selling at ArcBest

In related news, CFO John Matthew Beasley bought 700 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the purchase, the chief financial officer now directly owns 8,142 shares in the company, valued at $609,754.38. The trade was a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.65% of the company’s stock.

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.