Amalgamated Bank Has $757,000 Stock Position in ArcBest Co. (NASDAQ:ARCB)

Amalgamated Bank cut its holdings in ArcBest Co. (NASDAQ:ARCB) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,978 shares of the transportation company’s stock after selling 195 shares during the period. Amalgamated Bank’s holdings in ArcBest were worth $757,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP increased its holdings in ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after buying an additional 134 shares during the last quarter. Innealta Capital LLC acquired a new position in ArcBest in the second quarter valued at about $33,000. Quest Partners LLC acquired a new position in ArcBest in the second quarter valued at about $36,000. Cultivar Capital Inc. acquired a new position in ArcBest during the second quarter worth about $43,000. Finally, Mather Group LLC. acquired a new position in ArcBest during the second quarter worth about $46,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Stock Down 2.8 %

Shares of ARCB opened at $108.39 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. ArcBest Co. has a 1 year low of $94.76 and a 1 year high of $153.60. The stock has a 50 day simple moving average of $106.31 and a two-hundred day simple moving average of $108.65. The firm has a market cap of $2.54 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.84 and a beta of 1.47.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, November 1st. The transportation company reported $1.64 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 the consensus estimate of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. ArcBest’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 EPS. On average, analysts forecast that ArcBest Co. will post 6.19 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. ArcBest’s dividend payout ratio is currently 5.93%.

Insider Activity at ArcBest

In other news, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the transaction, the senior vice president now owns 5,051 shares of the company’s stock, valued at $609,150.60. This trade represents a 67.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ARCB shares. The Goldman Sachs Group lowered their price objective on ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Bank of America reduced their price target on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Morgan Stanley lowered their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Citigroup lifted their target price on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.