ArcBest Co. (NASDAQ:ARCB) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp decreased its position in ArcBest Co. (NASDAQ:ARCB) by 10.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,205 shares of the transportation company’s stock after selling 917 shares during the period. Hancock Whitney Corp’s holdings in ArcBest were worth $879,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. UniSuper Management Pty Ltd acquired a new stake in ArcBest in the 1st quarter valued at about $666,000. Norges Bank acquired a new stake in shares of ArcBest in the fourth quarter valued at approximately $9,298,000. The Manufacturers Life Insurance Company increased its stake in shares of ArcBest by 20.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 154,972 shares of the transportation company’s stock worth $18,629,000 after purchasing an additional 26,411 shares in the last quarter. Inspire Investing LLC lifted its stake in ArcBest by 39.6% in the 1st quarter. Inspire Investing LLC now owns 15,002 shares of the transportation company’s stock valued at $2,138,000 after buying an additional 4,258 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in ArcBest by 9.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 165,175 shares of the transportation company’s stock valued at $23,537,000 after buying an additional 14,463 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Insider Transactions at ArcBest

In other news, Director Salvatore A. Abbate bought 1,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the acquisition, the director now owns 3,650 shares of the company’s stock, valued at $379,344.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARCB. Stifel Nicolaus cut their price target on ArcBest from $150.00 to $131.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. TD Cowen cut their target price on shares of ArcBest from $136.00 to $131.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Bank of America reduced their target price on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. lowered their price target on shares of ArcBest from $134.00 to $133.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Finally, Stephens reissued an “overweight” rating and issued a $130.00 price objective on shares of ArcBest in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.18.

ArcBest Price Performance

ArcBest stock opened at $109.85 on Monday. ArcBest Co. has a 1 year low of $86.93 and a 1 year high of $153.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a 50 day moving average price of $109.86 and a 200 day moving average price of $117.49. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 1.22 and a beta of 1.46.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($0.05). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 earnings per share. Sell-side analysts predict that ArcBest Co. will post 7.21 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently declared 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. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 annualized dividend and a yield of 0.44%. ArcBest’s dividend payout ratio is presently 9.66%.

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.