Greenleaf Trust Takes Position in ArcBest Co. (NASDAQ:ARCB)

Greenleaf Trust bought a new stake in ArcBest Co. (NASDAQ:ARCB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,761 shares of the transportation company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ARCB. SG Americas Securities LLC bought a new position in shares of ArcBest in the third quarter valued at $141,000. DAVENPORT & Co LLC grew its stake in shares of ArcBest by 2.0% in the third quarter. DAVENPORT & Co LLC now owns 16,197 shares of the transportation company’s stock valued at $1,646,000 after buying an additional 322 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of ArcBest by 2.4% in the third quarter. Linden Thomas Advisory Services LLC now owns 16,284 shares of the transportation company’s stock valued at $1,655,000 after buying an additional 374 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of ArcBest by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 281,693 shares of the transportation company’s stock valued at $28,634,000 after buying an additional 1,934 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ArcBest by 14.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,941 shares of the transportation company’s stock valued at $502,000 after buying an additional 631 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

ArcBest Trading Down 6.1 %

Shares of ArcBest stock opened at $137.00 on Thursday. The firm has a 50-day moving average of $140.41 and a 200-day moving average of $124.81. The stock has a market cap of $3.22 billion, a PE ratio of 17.32, a PEG ratio of 0.60 and a beta of 1.49. ArcBest Co. has a 52-week low of $82.18 and a 52-week high of $153.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26.

ArcBest (NASDAQ:ARCB) last posted its quarterly 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 during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.45 earnings per share. As a group, sell-side analysts forecast that ArcBest Co. will post 10.05 EPS for the current year.

ArcBest Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Thursday, February 15th. ArcBest’s dividend payout ratio (DPR) is presently 6.07%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of ArcBest in a research report on Monday, January 29th. They set a “buy” rating and a $148.00 price objective for the company. Bank of America lifted their price objective on shares of ArcBest from $141.00 to $143.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. Stephens lifted their price objective on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. 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. Based on data from MarketBeat, ArcBest has an average rating of “Moderate Buy” and an average target price of $151.54.

Insider Activity at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of the business’s 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 transaction, the insider now owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.18% of the stock is owned by insiders.

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.