Thrivent Financial for Lutherans Has $2.02 Million Position in ArcBest Co. (NASDAQ:ARCB)

Thrivent Financial for Lutherans reduced its holdings in ArcBest Co. (NASDAQ:ARCB) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,616 shares of the transportation company’s stock after selling 883 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of ArcBest worth $2,019,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARCB. Quarry LP boosted its holdings in ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares in the last quarter. Innealta Capital LLC bought a new position in shares of ArcBest in the second quarter valued at approximately $33,000. Quest Partners LLC bought a new position in shares of ArcBest in the second quarter valued at approximately $36,000. Cultivar Capital Inc. bought a new position in shares of ArcBest in the second quarter valued at approximately $43,000. Finally, Mather Group LLC. bought a new position in shares of ArcBest in the second quarter valued at approximately $46,000. 99.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARCB has been the subject of a number of research analyst reports. UBS Group cut their target price on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group dropped their price objective on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Stifel Nicolaus dropped their price objective on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Stephens restated an “overweight” rating and issued a $130.00 price objective on shares of ArcBest in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, ArcBest currently has an average rating of “Hold” and an average target price of $124.50.

ArcBest Trading Up 0.4 %

Shares of NASDAQ:ARCB opened at $113.50 on Friday. The company’s 50-day moving average price is $107.43 and its two-hundred day moving average price is $108.37. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. ArcBest Co. has a one year low of $94.76 and a one year high of $153.60. The stock has a market capitalization of $2.66 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 2.11 and a beta of 1.47.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The firm’s revenue was down 5.8% compared to the same quarter last year. On average, equities analysts forecast that ArcBest Co. will post 6.19 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.42%. The ex-dividend date was Wednesday, November 13th. ArcBest’s payout ratio is 5.93%.

Insider Buying and Selling

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the sale, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the transaction, the senior vice president now owns 5,051 shares in the company, valued at approximately $609,150.60. This represents a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is owned by corporate insiders.

About ArcBest

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.