ArcBest Co. (NASDAQ:ARCB) Shares Sold by Royce & Associates LP

Royce & Associates LP lessened its stake in ArcBest Co. (NASDAQ:ARCB) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,583 shares of the transportation company’s stock after selling 7,061 shares during the quarter. Royce & Associates LP owned 0.33% of ArcBest worth $8,414,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. OneDigital Investment Advisors LLC boosted its stake 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 acquiring an additional 86 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in ArcBest by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock worth $1,264,000 after purchasing an additional 100 shares during the period. Nisa Investment Advisors LLC increased its holdings in ArcBest by 4.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock worth $350,000 after purchasing an additional 124 shares during the period. Johnson Investment Counsel Inc. increased its holdings in ArcBest by 6.5% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,095 shares of the transportation company’s stock worth $224,000 after purchasing an additional 128 shares during the period. Finally, Quarry LP increased its holdings in ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after purchasing an additional 134 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ArcBest

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARCB. TD Cowen cut ArcBest from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $131.00 to $114.00 in a research report on Monday, October 14th. Jefferies Financial Group decreased their price objective on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company cut their target price on ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Finally, Citigroup increased their target price on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $124.50.

ArcBest Trading Down 2.8 %

NASDAQ:ARCB opened at $108.39 on Monday. The business’s 50-day moving average is $106.31 and its two-hundred day moving average is $108.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. ArcBest Co. has a 12 month low of $94.76 and a 12 month high of $153.60. The firm has a market capitalization of $2.54 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.03 and a beta of 1.47.

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

ArcBest Announces Dividend

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

ArcBest 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.