Crossmark Global Holdings Inc. Invests $375,000 in ArcBest Co. (NASDAQ:ARCB)

Crossmark Global Holdings Inc. acquired a new stake in ArcBest Co. (NASDAQ:ARCB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,018 shares of the transportation company’s stock, valued at approximately $375,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ARCB. Quarry LP lifted its position in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after purchasing an additional 134 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of ArcBest by 63.7% in the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock valued at $56,000 after buying an additional 200 shares during the last quarter. Quest Partners LLC increased its holdings in shares of ArcBest by 60.6% in the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 206 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of ArcBest by 17.9% in the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after acquiring an additional 95 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of ArcBest by 36.8% in the 3rd quarter. KBC Group NV now owns 851 shares of the transportation company’s stock valued at $92,000 after buying an additional 229 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ArcBest

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the business’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 owns 5,051 shares of the company’s stock, valued at $609,150.60. The trade was a 67.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, 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. 1.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group lowered their price target on ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus increased their target price on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group reduced their price target on ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $125.00.

ArcBest Price Performance

Shares of NASDAQ ARCB opened at $98.49 on Monday. ArcBest Co. has a fifty-two week low of $91.01 and a fifty-two week high of $153.60. The stock has a market cap of $2.30 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.83 and a beta of 1.53. The firm’s 50-day simple moving average is $102.45 and its 200 day simple moving average is $106.38. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the firm earned $2.31 earnings per share. Equities analysts expect that ArcBest Co. will post 6.02 EPS for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio 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.