Allspring Global Investments Holdings LLC Has $3.74 Million Stake in ArcBest Co. (NASDAQ:ARCB)

Allspring Global Investments Holdings LLC raised its stake in ArcBest Co. (NASDAQ:ARCB) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,660 shares of the transportation company’s stock after purchasing an additional 3,140 shares during the period. Allspring Global Investments Holdings LLC owned 0.17% of ArcBest worth $3,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 177 shares in the last quarter. R Squared Ltd bought a new stake in ArcBest in the fourth quarter valued at $40,000. Quest Partners LLC increased its stake in 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 in the last quarter. Avior Wealth Management LLC increased its stake in 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 purchasing an additional 95 shares in the last quarter. Finally, KBC Group NV increased its stake in ArcBest by 36.8% in the third quarter. KBC Group NV now owns 851 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 229 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

ArcBest Trading Down 1.9 %

Shares of ARCB stock opened at $89.44 on Friday. ArcBest Co. has a 52-week low of $88.10 and a 52-week high of $153.60. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The company has a 50-day simple moving average of $96.35 and a two-hundred day simple moving average of $103.30. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.90 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period in the prior year, the business posted $2.47 earnings per share. Research analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Tuesday, February 11th. ArcBest’s payout ratio is 6.55%.

Analyst Ratings Changes

Several research firms have weighed in on ARCB. Stifel Nicolaus lifted their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their target price on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Morgan Stanley decreased their target price on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. UBS Group decreased their target price on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup boosted their target price on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $118.91.

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.