ArcBest Co. (NASDAQ:ARCB) Shares Acquired by Zimmer Partners LP

Zimmer Partners LP raised its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 13.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,000 shares of the transportation company’s stock after acquiring an additional 10,000 shares during the period. Zimmer Partners LP owned approximately 0.36% of ArcBest worth $9,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Quarry LP lifted its stake in shares of ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares during the period. Innealta Capital LLC acquired a new position in shares of ArcBest in the 2nd quarter valued at $33,000. Quest Partners LLC acquired a new position in shares of ArcBest in the 2nd quarter valued at $36,000. Cultivar Capital Inc. acquired a new position in shares of ArcBest in the 2nd quarter valued at $43,000. Finally, Mather Group LLC. acquired a new position in ArcBest during the second quarter worth $46,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the transaction, the director now directly owns 23,250 shares in the company, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the transaction, the senior vice president now owns 5,051 shares in the company, valued at approximately $609,150.60. This trade represents a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.

ArcBest Stock Performance

Shares of ARCB opened at $107.26 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.51 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.49. The company’s 50 day simple moving average is $107.29 and its 200-day simple moving average is $108.14. ArcBest Co. has a 12-month low of $94.76 and a 12-month high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business’s revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business posted $2.31 earnings per share. As a group, equities analysts predict that ArcBest Co. will post 6.07 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

Wall Street Analyst Weigh In

ARCB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. UBS Group dropped their price objective on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Stifel Nicolaus lowered their target price on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Jefferies Financial Group reduced their price target on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group reduced their price target 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $124.50.

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.