Empowered Funds LLC Has $401,000 Holdings in ArcBest Co. (NASDAQ:ARCB)

Empowered Funds LLC raised its holdings in ArcBest Co. (NASDAQ:ARCB) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,695 shares of the transportation company’s stock after acquiring an additional 173 shares during the period. Empowered Funds LLC’s holdings in ArcBest were worth $401,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Westwood Holdings Group Inc. grew its holdings in shares of ArcBest by 34.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after purchasing an additional 150,467 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of ArcBest by 4.0% during the second quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock worth $56,267,000 after purchasing an additional 20,115 shares during the period. Marshall Wace LLP grew its stake in shares of ArcBest by 158.7% in the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock worth $20,558,000 after purchasing an additional 117,774 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of ArcBest by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock worth $16,141,000 after purchasing an additional 1,214 shares during the last quarter. Finally, FAS Wealth Partners Inc. raised its position in ArcBest by 86.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 80,050 shares of the transportation company’s stock worth $8,572,000 after purchasing an additional 37,073 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ARCB. Wolfe Research cut ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Stephens reissued an “overweight” rating and set a $130.00 target price on shares of ArcBest in a research report on Wednesday, September 4th. The Goldman Sachs Group dropped their price target on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Jefferies Financial Group decreased their price objective on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Finally, Citigroup lifted their target price on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $124.50.

Insider Activity at ArcBest

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

ArcBest Trading Up 0.8 %

Shares of ArcBest stock opened at $109.91 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $107.14 and a 200 day simple moving average of $108.43. ArcBest Co. has a 12-month low of $94.76 and a 12-month high of $153.60. The company has a market capitalization of $2.57 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 2.04 and a beta of 1.47.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The firm 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%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 earnings per share. On average, sell-side analysts anticipate that ArcBest Co. will post 6.19 earnings per share for the current fiscal year.

ArcBest Announces Dividend

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

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.