Swiss National Bank Boosts Stock Position in ArcBest Co. (NASDAQ:ARCB)

Swiss National Bank boosted its position in shares of ArcBest Co. (NASDAQ:ARCB) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,500 shares of the transportation company’s stock after acquiring an additional 700 shares during the quarter. Swiss National Bank owned 0.20% of ArcBest worth $4,339,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ARCB. State Street Corp boosted its stake in shares of ArcBest by 1.9% in the third quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock valued at $103,831,000 after purchasing an additional 17,542 shares during the period. JPMorgan Chase & Co. boosted its position in ArcBest by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock valued at $24,022,000 after buying an additional 43,707 shares during the period. Intech Investment Management LLC grew its stake in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of ArcBest by 16.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after acquiring an additional 16,103 shares in the last quarter. Finally, Barclays PLC increased its position in shares of ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after acquiring an additional 33,386 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ArcBest

In related news, CFO John Matthew Beasley purchased 700 shares of ArcBest stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $74.89 per share, with a total value of $52,423.00. Following the purchase, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. The trade was a 9.41 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ARCB shares. Truist Financial started coverage on ArcBest in a research note on Thursday, March 13th. They set a “buy” rating and a $93.00 target price for the company. The Goldman Sachs Group lowered their price objective on ArcBest from $126.00 to $108.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. UBS Group reduced their target price on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Stifel Nicolaus boosted their price target on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Stephens reissued an “overweight” rating and issued a $116.00 price objective on shares of ArcBest in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, ArcBest presently has a consensus rating of “Hold” and an average target price of $108.33.

ArcBest Price Performance

ArcBest stock opened at $73.41 on Wednesday. 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 business has a fifty day moving average of $86.83 and a two-hundred day moving average of $98.44. ArcBest Co. has a one year low of $68.83 and a one year high of $153.61. The company has a market cap of $1.70 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate 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 firm earned $2.47 EPS. As a group, analysts predict that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

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