ArcBest Co. (NASDAQ:ARCB) Stock Holdings Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 41.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,190 shares of the transportation company’s stock after acquiring an additional 935 shares during the period. Teacher Retirement System of Texas’ holdings in ArcBest were worth $298,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State Street Corp lifted its stake in ArcBest by 1.9% during the third quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock valued at $103,831,000 after buying an additional 17,542 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 acquiring an additional 43,707 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in ArcBest by 16.0% in the 3rd 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 purchasing an additional 16,103 shares during the period. Barclays PLC grew its position in ArcBest by 342.5% during the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after purchasing an additional 33,386 shares in the last quarter. Finally, Impala Asset Management LLC raised its stake in ArcBest by 51.1% during the 3rd quarter. Impala Asset Management LLC now owns 34,000 shares of the transportation company’s stock valued at $3,687,000 after purchasing an additional 11,500 shares during the period. 99.27% of the stock is owned by institutional investors.

Insider Activity

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now directly owns 8,142 shares in the company, valued at $609,754.38. This represents a 9.41 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup cut their target price on shares of ArcBest from $103.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Truist Financial began coverage on ArcBest in a research report on Thursday, March 13th. They set a “buy” rating and a $93.00 price objective for the company. The Goldman Sachs Group dropped their target price on ArcBest from $126.00 to $108.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Stephens reiterated an “overweight” rating and set a $116.00 price target on shares of ArcBest in a report on Tuesday, March 11th. Finally, Stifel Nicolaus increased their price objective on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $107.00.

ArcBest Stock Down 0.6 %

ARCB opened at $70.13 on Wednesday. The firm has a market cap of $1.62 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 1.70 and a beta of 1.55. 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 50 day moving average price of $83.92 and a 200 day moving average price of $97.44. ArcBest Co. has a twelve month low of $68.83 and a twelve month high of $153.61.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data 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 in the previous year, the business earned $2.47 earnings per share. Research analysts forecast that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is 6.55%.

ArcBest 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.