ArcBest Co. (NASDAQ:ARCB) Position Lessened by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,188 shares of the transportation company’s stock after selling 162 shares during the period. Gotham Asset Management LLC’s holdings in ArcBest were worth $298,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. grew its position in ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after buying an additional 177 shares in the last quarter. R Squared Ltd bought a new position in shares of ArcBest in the fourth quarter valued at approximately $40,000. Smartleaf Asset Management LLC raised its stake in shares of ArcBest by 471.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 453 shares during the last quarter. KBC Group NV raised its position 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 purchasing an additional 297 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in ArcBest in the 4th quarter worth approximately $206,000. 99.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ARCB. StockNews.com upgraded shares of ArcBest from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Truist Financial reduced their target price on shares of ArcBest from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Citigroup lowered their target price on ArcBest from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Stephens reaffirmed an “overweight” rating and issued a $116.00 target price on shares of ArcBest in a research report on Tuesday, March 11th. Finally, Morgan Stanley lowered their price target on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and an average price target of $88.25.

Insider Transactions at ArcBest

In related news, CFO John Matthew Beasley acquired 700 shares of the firm’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 acquisition, the chief financial officer now directly owns 8,142 shares of the company’s stock, valued at approximately $609,754.38. This trade represents a 9.41% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.28% of the company’s stock.

ArcBest Trading Down 0.6%

Shares of ARCB stock opened at $66.15 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.52 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. The stock has a 50 day simple moving average of $65.56 and a 200 day simple moving average of $86.68. ArcBest Co. has a 1 year low of $55.19 and a 1 year high of $129.83.

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

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, May 9th. ArcBest’s payout ratio is presently 6.35%.

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.