ArcBest Co. (NASDAQ:ARCB) CFO Buys $52,423.00 in Stock

ArcBest Co. (NASDAQ:ARCB) CFO John Matthew Beasley acquired 700 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the purchase, the chief financial officer now directly owns 8,142 shares in the company, valued at $609,754.38. This trade represents a 9.41 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ArcBest Stock Up 0.2 %

NASDAQ ARCB traded up $0.15 during trading hours on Thursday, hitting $73.03. 410,844 shares of the company traded hands, compared to its average volume of 285,167. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The business’s 50-day moving average is $90.82 and its 200-day moving average is $100.46. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 1.70 and a beta of 1.54. ArcBest Co. has a twelve month low of $70.96 and a twelve month high of $153.61.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted $2.47 earnings per share. Sell-side analysts anticipate that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Announces Dividend

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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is presently 6.55%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARCB. Truist Financial assumed coverage on ArcBest in a report on Thursday. They set a “buy” rating and a $93.00 price objective on the stock. Stifel Nicolaus upped their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. UBS Group lowered their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Bank of America cut their price objective on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company lowered their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $109.75.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP raised its position in shares of ArcBest by 22.6% in the third quarter. GSA Capital Partners LLP now owns 15,266 shares of the transportation company’s stock valued at $1,656,000 after purchasing an additional 2,810 shares during the period. KBC Group NV raised its stake in shares of ArcBest by 36.8% during the third quarter. KBC Group NV now owns 851 shares of the transportation company’s stock valued at $92,000 after acquiring an additional 229 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in shares of ArcBest by 3.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $272,000 after buying an additional 86 shares during the last quarter. Empowered Funds LLC raised its stake in ArcBest by 4.9% during the third quarter. Empowered Funds LLC now owns 3,695 shares of the transportation company’s stock worth $401,000 after buying an additional 173 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of ArcBest by 13.5% during the 3rd quarter. Natixis Advisors LLC now owns 15,988 shares of the transportation company’s stock valued at $1,734,000 after purchasing an additional 1,902 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.