BNP Paribas Financial Markets Trims Stake in ArcBest Co. (NASDAQ:ARCB)

BNP Paribas Financial Markets trimmed its position in shares of ArcBest Co. (NASDAQ:ARCBFree Report) by 15.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,206 shares of the transportation company’s stock after selling 2,345 shares during the period. BNP Paribas Financial Markets owned about 0.06% of ArcBest worth $1,587,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in shares of ArcBest during the fourth quarter valued at approximately $39,000. Evergreen Capital Management LLC purchased a new position in ArcBest during the 3rd quarter valued at $203,000. First Heartland Consultants Inc. bought a new position in ArcBest in the 3rd quarter valued at $204,000. Greenleaf Trust purchased a new stake in ArcBest in the fourth quarter worth $212,000. Finally, Bellecapital International Ltd. bought a new stake in shares of ArcBest during the fourth quarter worth $213,000. 99.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the firm’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 sale, the insider now owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.65% of the stock is owned by company insiders.

ArcBest Trading Up 0.4 %

Shares of NASDAQ ARCB opened at $106.20 on Monday. ArcBest Co. has a 1-year low of $82.18 and a 1-year high of $153.60. The business has a fifty day moving average price of $130.21 and a 200 day moving average price of $126.82. The stock has a market capitalization of $2.49 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 0.97 and a beta of 1.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.23.

ArcBest (NASDAQ:ARCBGet Free Report) last posted its earnings results on Tuesday, April 30th. The transportation company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company earned $1.58 EPS. The company’s revenue was down 6.3% on a year-over-year basis. Equities research analysts expect that ArcBest Co. will post 8.51 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.12 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. ArcBest’s payout ratio is 9.66%.

Analyst Ratings Changes

A number of research firms have recently commented on ARCB. Bank of America cut their price target on shares of ArcBest from $143.00 to $110.00 and set an “underperform” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. reduced their target price on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. StockNews.com downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Stifel Nicolaus dropped their price objective on ArcBest from $159.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, Stephens raised their price objective on ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.69.

View Our Latest Stock Analysis on ARCB

ArcBest Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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