Natixis Advisors LLC Increases Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

Natixis Advisors LLC raised its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 13.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,988 shares of the transportation company’s stock after purchasing an additional 1,902 shares during the quarter. Natixis Advisors LLC owned approximately 0.07% of ArcBest worth $1,734,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ARCB. OneDigital Investment Advisors LLC increased its position in shares of ArcBest by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $272,000 after buying an additional 86 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of ArcBest by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock worth $1,264,000 after acquiring an additional 100 shares during the period. Nisa Investment Advisors LLC raised its position in shares of ArcBest by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock worth $350,000 after acquiring an additional 124 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in shares of ArcBest by 6.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,095 shares of the transportation company’s stock worth $224,000 after acquiring an additional 128 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares during the period. 99.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ARCB has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. UBS Group reduced their target price on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Stephens restated an “overweight” rating and issued a $130.00 price objective on shares of ArcBest in a report on Wednesday, September 4th. Finally, Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, ArcBest presently has a consensus rating of “Hold” and a consensus price target of $124.50.

Insider Activity at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the sale, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. This represents a 14.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the transaction, the senior vice president now directly owns 5,051 shares in the company, valued at $609,150.60. This represents a 67.40 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

ArcBest Stock Performance

Shares of ARCB opened at $112.58 on Tuesday. ArcBest Co. has a 12 month low of $94.76 and a 12 month high of $153.60. The business’s fifty day simple moving average is $107.14 and its two-hundred day simple moving average is $108.39. 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 company has a market cap of $2.63 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 2.06 and a beta of 1.47.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Research analysts anticipate that ArcBest Co. will post 6.19 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently disclosed 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 0.43%. The ex-dividend date is Wednesday, November 13th. ArcBest’s payout ratio is 5.93%.

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.