ArcBest Co. (NASDAQ:ARCB) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in ArcBest Co. (NASDAQ:ARCB) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,619,194 shares of the transportation company’s stock after selling 41,450 shares during the quarter. Vanguard Group Inc. owned about 11.14% of ArcBest worth $314,853,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ARCB. EverSource Wealth Advisors LLC boosted its position in ArcBest by 49.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. GAMMA Investing LLC acquired a new stake in ArcBest during the 4th quarter valued at approximately $39,000. Parallel Advisors LLC increased its holdings in ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after purchasing an additional 114 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of ArcBest by 51.9% in the 4th quarter. Quadrant Capital Group LLC now owns 597 shares of the transportation company’s stock valued at $72,000 after purchasing an additional 204 shares in the last quarter. Finally, Johnson Investment Counsel Inc. purchased a new position in shares of ArcBest during the 4th quarter valued at approximately $209,000. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on ARCB shares. JPMorgan Chase & Co. cut their price target on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus reduced their price target on shares of ArcBest from $159.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Wells Fargo & Company started coverage on ArcBest in a report on Friday, June 7th. They issued an “overweight” rating and a $140.00 price objective for the company. UBS Group reduced their target price on ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, TD Cowen dropped their price target on ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.00.

ArcBest Stock Performance

Shares of NASDAQ ARCB opened at $107.08 on Friday. ArcBest Co. has a 12-month low of $86.93 and a 12-month high of $153.60. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.12. The company has a market cap of $2.51 billion, a PE ratio of 21.55, a P/E/G ratio of 0.82 and a beta of 1.49. The stock has a 50 day simple moving average of $112.38 and a 200-day simple moving average of $124.79.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. ArcBest’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the business posted $1.58 earnings per share. On average, equities research analysts forecast that ArcBest Co. will post 8.54 EPS for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Thursday, May 9th. ArcBest’s dividend payout ratio (DPR) is presently 9.66%.

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.