Quest Partners LLC Increases Holdings in ArcBest Co. (NASDAQ:ARCB)

Quest Partners LLC boosted its position in ArcBest Co. (NASDAQ:ARCB) by 60.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 546 shares of the transportation company’s stock after purchasing an additional 206 shares during the period. Quest Partners LLC’s holdings in ArcBest were worth $59,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ARCB. Price T Rowe Associates Inc. MD grew its position in shares of ArcBest by 54.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,660 shares of the transportation company’s stock valued at $2,945,000 after purchasing an additional 7,291 shares during the last quarter. Impala Asset Management LLC acquired a new stake in ArcBest during the 2nd quarter valued at $2,409,000. Point72 DIFC Ltd acquired a new stake in ArcBest during the 2nd quarter valued at $641,000. Semanteon Capital Management LP purchased a new position in ArcBest during the third quarter worth $1,178,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of ArcBest in the second quarter worth $5,630,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $609,150.60. This represents a 67.40 % decrease in their position. The disclosure for this sale can be found here. 1.65% of the stock is owned by insiders.

ArcBest Trading Up 1.6 %

Shares of ARCB opened at $115.28 on Friday. ArcBest Co. has a twelve month low of $94.76 and a twelve month high of $153.60. The firm has a market capitalization of $2.70 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 2.13 and a beta of 1.47. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock’s fifty day simple moving average is $107.49 and its 200 day simple moving average is $108.32.

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

ArcBest Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wolfe Research cut ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Stephens reiterated an “overweight” rating and set a $130.00 price target on shares of ArcBest in a report on Wednesday, September 4th. Stifel Nicolaus cut 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. TD Cowen lowered shares of ArcBest from a “buy” rating to a “hold” rating and decreased their target price for the stock from $131.00 to $114.00 in a research report on Monday, October 14th. Finally, Morgan Stanley cut their price target on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $124.50.

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.