ArcBest Co. (NASDAQ:ARCB) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 95,068 shares of the transportation company’s stock after purchasing an additional 3,525 shares during the quarter. Russell Investments Group Ltd.’s holdings in ArcBest were worth $11,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARCB. Allworth Financial LP grew its position in ArcBest by 15,450.0% during the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after purchasing an additional 309 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of ArcBest in the 4th quarter valued at $39,000. SG Americas Securities LLC purchased a new position in ArcBest in the 3rd quarter worth $141,000. Greenleaf Trust acquired a new stake in ArcBest during the 4th quarter worth about $212,000. Finally, Truist Financial Corp purchased a new stake in ArcBest during the 4th quarter valued at about $213,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Price Performance

NASDAQ:ARCB opened at $114.85 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. ArcBest Co. has a 52 week low of $82.18 and a 52 week high of $153.60. The stock’s 50-day moving average price is $137.54 and its 200-day moving average price is $125.99. The stock has a market capitalization of $2.70 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 0.53 and a beta of 1.56.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 EPS. As a group, equities analysts expect that ArcBest Co. will post 9 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.42%. The ex-dividend date is Thursday, May 9th. ArcBest’s payout ratio is presently 9.66%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Stifel Nicolaus lifted their target price on ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. decreased their price objective on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of ArcBest in a research note on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective on the stock. TD Cowen decreased their target price on shares of ArcBest from $177.00 to $148.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Morgan Stanley increased their price target on ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.38.

Insiders Place Their Bets

In other news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the sale, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.65% of the stock is currently owned by company insiders.

ArcBest Profile

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.