Charles Schwab Investment Management Inc. Acquires 11,894 Shares of ArcBest Co. (NASDAQ:ARCB)

Charles Schwab Investment Management Inc. raised its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 426,155 shares of the transportation company’s stock after purchasing an additional 11,894 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.82% of ArcBest worth $39,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. KBC Group NV grew its stake in ArcBest by 36.8% during the third quarter. KBC Group NV now owns 851 shares of the transportation company’s stock worth $92,000 after buying an additional 229 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in ArcBest by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock worth $272,000 after acquiring an additional 86 shares during the last quarter. Empowered Funds LLC increased its holdings in ArcBest by 4.9% during the 3rd quarter. Empowered Funds LLC now owns 3,695 shares of the transportation company’s stock valued at $401,000 after purchasing an additional 173 shares in the last quarter. Natixis Advisors LLC boosted its stake in ArcBest by 13.5% in the third quarter. Natixis Advisors LLC now owns 15,988 shares of the transportation company’s stock worth $1,734,000 after purchasing an additional 1,902 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in ArcBest by 60.6% during the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after acquiring an additional 206 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ArcBest

In other news, CFO John Matthew Beasley purchased 700 shares of ArcBest stock in a transaction dated Thursday, March 13th. The shares were 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 owns 8,142 shares in the company, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.65% of the company’s stock.

ArcBest Stock Performance

Shares of NASDAQ ARCB opened at $73.35 on Friday. ArcBest Co. has a one year low of $70.96 and a one year high of $153.61. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.70 and a beta of 1.54. The stock’s fifty day moving average price is $90.03 and its two-hundred day moving average price is $99.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period in the previous year, the firm posted $2.47 earnings per share. On average, equities analysts forecast that ArcBest Co. will post 7 EPS for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. ArcBest’s dividend payout ratio (DPR) is currently 6.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stephens restated an “overweight” rating and set a $116.00 target price on shares of ArcBest in a research report on Tuesday, March 11th. Stifel Nicolaus lifted their target price on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Truist Financial started coverage on shares of ArcBest in a report on Thursday. They set a “buy” rating and a $93.00 price objective on the stock. Morgan Stanley decreased their price target on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, UBS Group decreased their price target on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $108.33.

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.