ArcBest Co. (NASDAQ:ARCB) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,627 shares of the transportation company’s stock after purchasing an additional 13,152 shares during the period. Victory Capital Management Inc. owned approximately 0.99% of ArcBest worth $21,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of ArcBest by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 426,155 shares of the transportation company’s stock valued at $39,769,000 after buying an additional 11,894 shares during the period. Smartleaf Asset Management LLC raised its position in ArcBest by 471.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 453 shares in the last quarter. CIBC Asset Management Inc acquired a new position in ArcBest in the fourth quarter valued at approximately $216,000. Sanctuary Advisors LLC boosted its position in ArcBest by 7.4% in the 4th quarter. Sanctuary Advisors LLC now owns 4,429 shares of the transportation company’s stock worth $419,000 after purchasing an additional 306 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of ArcBest by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 114,189 shares of the transportation company’s stock worth $10,656,000 after purchasing an additional 2,169 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ARCB shares. 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 note on Monday, February 3rd. Morgan Stanley cut their price target on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup reduced their price target on ArcBest from $103.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday. Stephens reissued an “overweight” rating and issued a $116.00 price objective on shares of ArcBest in a report on Tuesday. Finally, Wells Fargo & Company reduced their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $113.64.

ArcBest Trading Down 1.2 %

Shares of ARCB stock opened at $73.33 on Wednesday. The stock’s fifty day moving average is $91.23 and its two-hundred day moving average is $100.65. 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 firm has a market capitalization of $1.70 billion, a P/E ratio of 10.00, a PEG ratio of 1.70 and a beta of 1.54. ArcBest Co. has a fifty-two week low of $71.57 and a fifty-two week high of $153.61.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share 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 last year, the business posted $2.47 EPS. Research analysts expect that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is currently 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.