The Manufacturers Life Insurance Company Increases Stock Position in ArcBest Co. (NASDAQ:ARCB)

The Manufacturers Life Insurance Company lifted its stake in ArcBest Co. (NASDAQ:ARCBFree Report) by 20.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,972 shares of the transportation company’s stock after acquiring an additional 26,411 shares during the quarter. The Manufacturers Life Insurance Company owned 0.65% of ArcBest worth $18,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ARCB. Janney Montgomery Scott LLC grew its position in ArcBest by 2.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 22,966 shares of the transportation company’s stock worth $2,335,000 after purchasing an additional 497 shares during the period. Charles Schwab Investment Management Inc. increased its position in ArcBest by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 364,314 shares of the transportation company’s stock valued at $37,033,000 after acquiring an additional 7,094 shares during the last quarter. UBS Group AG lifted its holdings in ArcBest by 13.1% in the third quarter. UBS Group AG now owns 85,798 shares of the transportation company’s stock valued at $8,721,000 after acquiring an additional 9,967 shares during the period. Deutsche Bank AG boosted its position in ArcBest by 0.6% in the third quarter. Deutsche Bank AG now owns 34,001 shares of the transportation company’s stock worth $3,456,000 after purchasing an additional 191 shares during the last quarter. Finally, First Heartland Consultants Inc. bought a new stake in shares of ArcBest during the 3rd quarter valued at about $204,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Up 6.8 %

Shares of ARCB opened at $108.42 on Friday. ArcBest Co. has a 12-month low of $84.54 and a 12-month high of $153.60. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.54 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49. The business’s 50 day moving average is $123.95 and its 200 day moving average is $125.77.

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

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Thursday, May 9th. ArcBest’s dividend payout ratio (DPR) is presently 9.66%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ARCB shares. JPMorgan Chase & Co. lowered their price objective on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. UBS Group dropped their price target on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Wells Fargo & Company started coverage on ArcBest in a research note on Friday. They issued an “overweight” rating and a $140.00 price objective for the company. Stifel Nicolaus lowered their target price on ArcBest from $159.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, StockNews.com lowered ArcBest from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Read Our Latest Report on ArcBest

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.

See Also

Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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