ArcBest Co. (NASDAQ:ARCB) Position Decreased by Mariner LLC

Mariner LLC reduced its holdings in ArcBest Co. (NASDAQ:ARCB) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,535 shares of the transportation company’s stock after selling 236 shares during the quarter. Mariner LLC’s holdings in ArcBest were worth $237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System boosted its holdings in shares of ArcBest by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock worth $640,000 after buying an additional 108 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of ArcBest by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock valued at $230,000 after purchasing an additional 157 shares in the last quarter. Stephens Inc. AR boosted its position in shares of ArcBest by 2.1% in the fourth quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company’s stock worth $758,000 after buying an additional 170 shares during the period. Blue Trust Inc. raised its position in ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after buying an additional 177 shares during the period. Finally, KBC Group NV lifted its stake in ArcBest by 34.9% in the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company’s stock worth $107,000 after acquiring an additional 297 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ARCB. Stephens reissued an “overweight” rating and issued a $116.00 price target on shares of ArcBest in a research report on Tuesday, March 11th. Bank of America lowered their price target on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a report on Wednesday, March 12th. Wells Fargo & Company cut their price objective on ArcBest from $80.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group dropped their target price on ArcBest from $97.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Finally, UBS Group reduced their price target on ArcBest from $100.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.75.

ArcBest Stock Performance

Shares of ARCB opened at $58.57 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. ArcBest Co. has a one year low of $55.19 and a one year high of $129.83. The company’s fifty day moving average price is $67.28 and its 200 day moving average price is $89.25. The company has a market capitalization of $1.36 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $967.08 million during the quarter, compared to the consensus estimate of $990.03 million. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. ArcBest’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the company earned $1.34 earnings per share. As a group, analysts expect that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.82%. ArcBest’s dividend payout ratio (DPR) is 6.35%.

Insiders Place Their Bets

In other news, CFO John Matthew Beasley bought 700 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares of the company’s stock, valued at $609,754.38. This trade represents a 9.41 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.28% of the company’s stock.

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.