AE Wealth Management LLC Decreases Stock Position in ArcBest Co. (NASDAQ:ARCB)

AE Wealth Management LLC lessened its position in ArcBest Co. (NASDAQ:ARCBGet Rating) by 67.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,496 shares of the transportation company’s stock after selling 7,341 shares during the quarter. AE Wealth Management LLC’s holdings in ArcBest were worth $254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ARCB. Assetmark Inc. increased its holdings in shares of ArcBest by 103.3% in the second quarter. Assetmark Inc. now owns 374 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 190 shares during the last quarter. Ancora Advisors LLC acquired a new stake in shares of ArcBest in the first quarter valued at approximately $56,000. Point72 Hong Kong Ltd acquired a new stake in shares of ArcBest in the second quarter valued at approximately $58,000. Counterpoint Mutual Funds LLC increased its holdings in shares of ArcBest by 50.7% in the second quarter. Counterpoint Mutual Funds LLC now owns 1,533 shares of the transportation company’s stock valued at $108,000 after purchasing an additional 516 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of ArcBest by 108.0% in the second quarter. Lazard Asset Management LLC now owns 1,837 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 954 shares during the last quarter. Hedge funds and other institutional investors own 88.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ARCB. Morgan Stanley cut their price target on ArcBest from $139.00 to $138.00 and set an “overweight” rating for the company in a report on Wednesday, January 11th. Citigroup cut their target price on ArcBest from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, October 7th. StockNews.com began coverage on ArcBest in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Finally, Credit Suisse Group raised their target price on ArcBest from $87.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.56.

ArcBest Trading Up 1.2 %

Shares of NASDAQ ARCB opened at $77.23 on Thursday. The stock has a market capitalization of $1.89 billion, a PE ratio of 6.11, a PEG ratio of 0.38 and a beta of 1.56. The stock has a fifty day simple moving average of $77.16 and a 200-day simple moving average of $78.46. ArcBest Co. has a twelve month low of $65.15 and a twelve month high of $98.95. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.17.

ArcBest (NASDAQ:ARCBGet Rating) last released its earnings results on Tuesday, November 1st. The transportation company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.75 by $0.05. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. ArcBest had a return on equity of 35.11% and a net margin of 6.20%. ArcBest’s revenue was up 33.0% compared to the same quarter last year. During the same period last year, the business posted $2.59 earnings per share. On average, equities analysts forecast that ArcBest Co. will post 13.87 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 11th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.62%. ArcBest’s dividend payout ratio (DPR) is presently 3.79%.

Insider Activity at ArcBest

In related news, insider Daniel E. Loe sold 7,555 shares of ArcBest stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $81.14, for a total value of $613,012.70. Following the completion of the transaction, the insider now directly owns 26,615 shares in the company, valued at $2,159,541.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.68% of the stock is currently owned by company insiders.

ArcBest Company Profile

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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.

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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