ArcBest Co. (NASDAQ:ARCB) Holdings Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in ArcBest Co. (NASDAQ:ARCB) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,466 shares of the transportation company’s stock after selling 6,788 shares during the quarter. New York State Teachers Retirement System owned approximately 0.17% of ArcBest worth $4,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ARCB. Cambridge Investment Research Advisors Inc. grew its stake in ArcBest by 13.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,737 shares of the transportation company’s stock worth $220,000 after buying an additional 314 shares during the last quarter. Citigroup Inc. grew its stake in ArcBest by 4.5% during the 1st quarter. Citigroup Inc. now owns 24,501 shares of the transportation company’s stock worth $1,972,000 after buying an additional 1,061 shares during the last quarter. MetLife Investment Management LLC grew its stake in ArcBest by 55.3% during the 1st quarter. MetLife Investment Management LLC now owns 13,678 shares of the transportation company’s stock worth $1,101,000 after buying an additional 4,871 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in ArcBest by 10.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,438 shares of the transportation company’s stock worth $1,726,000 after buying an additional 2,114 shares during the last quarter. Finally, APG Asset Management N.V. bought a new position in ArcBest during the 1st quarter worth $1,461,000. 99.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the sale, the insider now directly owns 32,247 shares of the company’s stock, valued at approximately $4,565,530.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.65% of the company’s stock.

ArcBest Trading Down 1.7 %

NASDAQ:ARCB opened at $149.19 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13. ArcBest Co. has a 1-year low of $82.18 and a 1-year high of $153.60. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.49. The stock has a fifty day simple moving average of $140.02 and a 200 day simple moving average of $122.44.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. ArcBest’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the company posted $2.45 EPS. Sell-side analysts forecast that ArcBest Co. will post 10.08 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Thursday, February 15th. ArcBest’s dividend payout ratio is currently 6.07%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ARCB shares. The Goldman Sachs Group upped their price objective on ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a research note on Thursday. Stephens boosted their price target on ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on ArcBest in a research report on Monday, January 29th. They set a “buy” rating and a $148.00 price target for the company. TD Cowen boosted their price target on ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley upped their price objective on ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, ArcBest presently has an average rating of “Moderate Buy” and a consensus price target of $148.85.

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.