ArcBest Co. (NASDAQ:ARCB) Stock Holdings Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in ArcBest Co. (NASDAQ:ARCB) by 5.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 414,261 shares of the transportation company’s stock after buying an additional 21,905 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.77% of ArcBest worth $44,927,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Intech Investment Management LLC raised its position in ArcBest by 92.3% in the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock worth $1,166,000 after acquiring an additional 5,161 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ArcBest by 54.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,660 shares of the transportation company’s stock worth $2,945,000 after purchasing an additional 7,291 shares during the last quarter. Impala Asset Management LLC bought a new stake in shares of ArcBest in the 2nd quarter worth approximately $2,409,000. Point72 DIFC Ltd acquired a new stake in ArcBest during the second quarter valued at approximately $641,000. Finally, Semanteon Capital Management LP bought a new stake in ArcBest during the third quarter worth approximately $1,178,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Insider Activity

In related news, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the transaction, the director now owns 23,250 shares in the company, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.

ArcBest Trading Up 1.6 %

NASDAQ:ARCB opened at $115.28 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $2.70 billion, a P/E ratio of 14.23, a P/E/G ratio of 2.16 and a beta of 1.47. The stock’s 50 day moving average price is $107.49 and its 200 day moving average price is $108.25. ArcBest Co. has a 52 week low of $94.76 and a 52 week high of $153.60.

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 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%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 EPS. On average, research analysts forecast that ArcBest Co. will post 6.19 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.48 annualized dividend and a yield of 0.42%. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stifel Nicolaus dropped their price target on ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wolfe Research lowered ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. TD Cowen lowered ArcBest from a “buy” rating to a “hold” rating and decreased their price target for the company from $131.00 to $114.00 in a research report on Monday, October 14th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.50.

About ArcBest

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.