Dimensional Fund Advisors LP Sells 61,030 Shares of ArcBest Co. (NASDAQ:ARCB)

Dimensional Fund Advisors LP decreased its position in shares of ArcBest Co. (NASDAQ:ARCB) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,625,322 shares of the transportation company’s stock after selling 61,030 shares during the quarter. Dimensional Fund Advisors LP owned about 6.94% of ArcBest worth $174,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARCB. EverSource Wealth Advisors LLC grew its holdings in ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after buying an additional 78 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in ArcBest by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock worth $1,264,000 after buying an additional 100 shares in the last quarter. 1492 Capital Management LLC grew its holdings in ArcBest by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 10,605 shares of the transportation company’s stock worth $1,275,000 after buying an additional 103 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in ArcBest by 45.8% during the fourth quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after buying an additional 114 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARCB. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. TD Cowen reduced their price objective on ArcBest from $136.00 to $131.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Bank of America reduced their price objective on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price objective on ArcBest from $134.00 to $133.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Stifel Nicolaus reduced their price objective on ArcBest from $150.00 to $131.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, ArcBest presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.18.

ArcBest Stock Down 5.2 %

Shares of NASDAQ ARCB opened at $109.85 on Friday. The business’s fifty day moving average price is $109.86 and its 200-day moving average price is $117.79. The stock has a market capitalization of $2.57 billion, a PE ratio of 22.10, a P/E/G ratio of 1.22 and a beta of 1.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19. ArcBest Co. has a one year low of $86.93 and a one year high of $153.60.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.54 EPS. On average, equities research analysts anticipate that ArcBest Co. will post 7.21 EPS for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. ArcBest’s dividend payout ratio (DPR) is 9.66%.

Insider Buying and Selling

In related news, Director Salvatore A. Abbate acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $103.93 per share, with a total value of $103,930.00. Following the acquisition, the director now owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.65% of the stock is currently owned by insiders.

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.