Envestnet Asset Management Inc. Has $934,000 Holdings in ArcBest Co. (NASDAQ:ARCB)

Envestnet Asset Management Inc. lifted its position in shares of ArcBest Co. (NASDAQ:ARCBGet Rating) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,275 shares of the transportation company’s stock after buying an additional 757 shares during the quarter. Envestnet Asset Management Inc. owned about 0.05% of ArcBest worth $934,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Assetmark Inc. increased its position in shares of ArcBest by 103.3% during the second quarter. Assetmark Inc. now owns 374 shares of the transportation company’s stock worth $26,000 after buying an additional 190 shares during the period. Ancora Advisors LLC bought a new position in ArcBest during the first quarter worth $56,000. Counterpoint Mutual Funds LLC boosted its stake in ArcBest by 50.7% during the second quarter. Counterpoint Mutual Funds LLC now owns 1,533 shares of the transportation company’s stock worth $108,000 after acquiring an additional 516 shares in the last quarter. Meeder Asset Management Inc. bought a new position in ArcBest during the first quarter worth $193,000. Finally, Money Concepts Capital Corp boosted its stake in ArcBest by 10.2% during the second 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 in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARCB. StockNews.com began coverage on shares of ArcBest in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Morgan Stanley dropped their price objective on shares of ArcBest from $140.00 to $139.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 9th. Stifel Nicolaus dropped their price objective on shares of ArcBest from $143.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, August 2nd. Credit Suisse Group raised their price objective on shares of ArcBest from $87.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 2nd. Finally, Cowen dropped their price objective on shares of ArcBest to $127.00 in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $113.67.

ArcBest Stock Performance

Shares of ARCB stock opened at $81.77 on Friday. The firm has a 50-day moving average of $76.83 and a 200-day moving average of $77.84. The company has a market cap of $2.00 billion, a P/E ratio of 6.46, a P/E/G ratio of 0.33 and a beta of 1.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.32 and a quick ratio of 1.32. ArcBest Co. has a one year low of $65.15 and a one year high of $125.00.

ArcBest (NASDAQ:ARCBGet Rating) last announced its earnings results on Tuesday, November 1st. The transportation company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.72 by $0.08. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. ArcBest had a net margin of 6.20% and a return on equity of 35.11%. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.59 earnings per share. Equities research analysts forecast that ArcBest Co. will post 13.94 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.59%. ArcBest’s dividend payout ratio (DPR) is presently 3.79%.

Insider Buying and Selling

In related news, insider Daniel E. Loe sold 7,555 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $81.14, for a total transaction of $613,012.70. Following the completion of the sale, the insider now owns 26,615 shares in the company, valued at $2,159,541.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.68% of the stock is currently owned by corporate insiders.

About ArcBest

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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.

See Also

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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