Los Angeles Capital Management LLC lessened its holdings in shares of ArcBest Co. (NASDAQ:ARCB – Get Rating) by 0.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,906 shares of the transportation company’s stock after selling 144 shares during the period. Los Angeles Capital Management LLC owned 0.10% of ArcBest worth $1,682,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of ArcBest by 40.1% during the first quarter. Parallel Advisors LLC now owns 632 shares of the transportation company’s stock worth $54,000 after buying an additional 181 shares in the last quarter. Assetmark Inc. lifted its holdings in ArcBest by 103.3% during the 2nd quarter. Assetmark Inc. now owns 374 shares of the transportation company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Strs Ohio raised its holdings in ArcBest by 1.5% in the 2nd quarter. Strs Ohio now owns 13,600 shares of the transportation company’s stock valued at $957,000 after acquiring an additional 200 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of ArcBest by 4.7% in the 1st quarter. Teacher Retirement System of Texas now owns 5,254 shares of the transportation company’s stock valued at $423,000 after purchasing an additional 237 shares during the last quarter. Finally, Money Concepts Capital Corp grew its position in ArcBest by 10.2% during the 2nd quarter. Money Concepts Capital Corp now owns 2,875 shares of the transportation company’s stock worth $204,000 after acquiring an additional 267 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.
Insiders Place Their Bets
In related news, CEO Judy R. Mcreynolds sold 25,000 shares of ArcBest stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $88.77, for a total value of $2,219,250.00. Following the completion of the transaction, the chief executive officer now owns 55,060 shares in the company, valued at approximately $4,887,676.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.68% of the stock is currently owned by insiders.
ArcBest Stock Up 3.5 %
ArcBest (NASDAQ:ARCB – Get Rating) last posted its quarterly earnings data on Tuesday, November 1st. The transportation company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.72 by $0.08. ArcBest had a net margin of 6.20% and a return on equity of 35.11%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company posted $2.59 EPS. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, equities research analysts anticipate that ArcBest Co. will post 13.95 EPS for the current fiscal year.
ArcBest Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. ArcBest’s payout ratio is 3.79%.
Analyst Upgrades and Downgrades
ARCB has been the topic of a number of recent analyst reports. Credit Suisse Group boosted their price objective on ArcBest from $87.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 2nd. Cowen reduced their price objective on ArcBest to $127.00 in a report on Tuesday, August 9th. StockNews.com began coverage on ArcBest in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Stephens raised their price target on ArcBest from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. Finally, Stifel Nicolaus reduced their price objective on ArcBest from $143.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, August 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, ArcBest presently has an average rating of “Moderate Buy” and a consensus target price of $113.78.
ArcBest Company Profile
ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.
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