Mutual of America Capital Management LLC Grows Holdings in ArcBest Co. (NASDAQ:ARCB)

Mutual of America Capital Management LLC increased its stake in ArcBest Co. (NASDAQ:ARCB) by 1,455.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,399 shares of the transportation company’s stock after buying an additional 59,322 shares during the period. Mutual of America Capital Management LLC owned about 0.27% of ArcBest worth $6,789,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. increased its position in shares of ArcBest by 70.9% in the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after purchasing an additional 78 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in ArcBest by 49.3% in the fourth 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. Innealta Capital LLC acquired a new stake in ArcBest during the second quarter valued at approximately $33,000. Quest Partners LLC bought a new position in ArcBest during the 2nd quarter worth approximately $36,000. Finally, Parallel Advisors LLC grew its position in shares of ArcBest by 45.8% in the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after acquiring an additional 114 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America dropped their price target on ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. TD Cowen reduced their price target on shares of ArcBest from $136.00 to $131.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. lowered their price objective on shares of ArcBest from $134.00 to $133.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Wells Fargo & Company cut shares of ArcBest from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $122.00 to $112.00 in a report on Wednesday, September 4th. Finally, Stephens reaffirmed an “overweight” rating and set a $130.00 target price on shares of ArcBest in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ArcBest currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.18.

ArcBest Stock Performance

Shares of NASDAQ ARCB opened at $115.83 on Friday. ArcBest Co. has a 1 year low of $86.93 and a 1 year high of $153.60. The firm has a market cap of $2.71 billion, a P/E ratio of 23.31, a PEG ratio of 1.22 and a beta of 1.46. The stock has a fifty day moving average price of $109.95 and a two-hundred day moving average price of $118.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 earnings per share. Research analysts forecast that ArcBest Co. will post 7.21 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Tuesday, August 13th. ArcBest’s dividend payout ratio is presently 9.66%.

Insiders Place Their Bets

In other ArcBest news, Director Salvatore A. Abbate purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $103.93 per share, with a total value of $103,930.00. Following the completion of the transaction, the director now owns 3,650 shares of the company’s stock, valued at $379,344.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.65% of the company’s stock.

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.