ArcBest Co. (NASDAQ:ARCB) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 192,961 shares of the transportation company’s stock after buying an additional 172 shares during the quarter. Bank of New York Mellon Corp owned about 0.82% of ArcBest worth $18,007,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ARCB. Blue Trust Inc. lifted its stake in shares of ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after purchasing an additional 177 shares in the last quarter. R Squared Ltd acquired a new position in shares of ArcBest during the fourth quarter worth about $40,000. Quest Partners LLC lifted its stake in shares of ArcBest by 60.6% during the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after purchasing an additional 206 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of ArcBest by 17.9% during the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after purchasing an additional 95 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of ArcBest by 36.8% during the third quarter. KBC Group NV now owns 851 shares of the transportation company’s stock worth $92,000 after purchasing an additional 229 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

ARCB has been the topic of several recent analyst reports. Morgan Stanley cut their price target on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company cut their price target on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus boosted their price target on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. UBS Group cut their price target on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Citigroup cut their price objective on ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.64.

ArcBest Price Performance

Shares of NASDAQ:ARCB opened at $73.33 on Wednesday. ArcBest Co. has a one year low of $71.57 and a one year high of $153.61. The stock has a fifty day moving average of $91.23 and a 200-day moving average of $100.65. The company has a market capitalization of $1.70 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period last year, the company earned $2.47 earnings per share. As a group, equities analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. ArcBest’s dividend payout ratio is 6.55%.

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.