ArcBest Co. (NASDAQ:ARCB) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its position in shares of ArcBest Co. (NASDAQ:ARCB) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,858 shares of the transportation company’s stock after selling 200 shares during the period. Nisa Investment Advisors LLC’s holdings in ArcBest were worth $344,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARCB. Evergreen Capital Management LLC purchased a new position in shares of ArcBest in the third quarter valued at approximately $203,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of ArcBest by 385.8% in the third quarter. Schonfeld Strategic Advisors LLC now owns 26,717 shares of the transportation company’s stock valued at $2,716,000 after purchasing an additional 21,217 shares during the period. American Century Companies Inc. boosted its stake in shares of ArcBest by 10.5% in the third quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company’s stock valued at $38,445,000 after purchasing an additional 35,968 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of ArcBest by 31.3% in the third quarter. Public Employees Retirement System of Ohio now owns 55,199 shares of the transportation company’s stock valued at $5,611,000 after purchasing an additional 13,165 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of ArcBest by 9.4% in the third quarter. Northern Trust Corp now owns 458,090 shares of the transportation company’s stock valued at $46,565,000 after purchasing an additional 39,215 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the transaction, the insider now directly owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.65% of the stock is currently owned by insiders.

ArcBest Stock Performance

Shares of ArcBest stock opened at $136.24 on Friday. The firm’s fifty day simple moving average is $140.66 and its 200-day simple moving average is $123.38. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 0.64 and a beta of 1.49. ArcBest Co. has a 12 month low of $82.18 and a 12 month high of $153.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.45 EPS. As a group, equities analysts forecast that ArcBest Co. will post 10.05 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.35%. ArcBest’s dividend payout ratio (DPR) is 6.07%.

Analysts Set New Price Targets

Several research firms have recently commented on ARCB. UBS Group raised their price objective on shares of ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Stephens lifted their price target on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. TD Cowen lifted their price target on shares of ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley lifted their price target on shares of ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.54.

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.