Yousif Capital Management LLC Sells 261 Shares of ArcBest Corporation (NASDAQ:ARCB)

Yousif Capital Management LLC cut its holdings in ArcBest Corporation (NASDAQ:ARCB) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,661 shares of the transportation company’s stock after selling 261 shares during the period. Yousif Capital Management LLC’s holdings in ArcBest were worth $611,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Arizona State Retirement System increased its position in ArcBest by 1.6% during the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock valued at $640,000 after acquiring an additional 108 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of ArcBest by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock valued at $230,000 after buying an additional 157 shares in the last quarter. Blue Trust Inc. boosted its stake in ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 177 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of ArcBest by 4.3% in the 4th quarter. Franklin Resources Inc. now owns 7,406 shares of the transportation company’s stock worth $691,000 after purchasing an additional 305 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its position in ArcBest by 7.4% during the 4th quarter. Sanctuary Advisors LLC now owns 4,429 shares of the transportation company’s stock worth $419,000 after purchasing an additional 306 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

ArcBest Trading Up 0.8%

NASDAQ:ARCB opened at $68.78 on Friday. ArcBest Corporation has a 12-month low of $55.19 and a 12-month high of $129.83. The firm has a market cap of $1.58 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.72 and a beta of 1.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $63.85 and a 200 day moving average price of $79.55.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). ArcBest had a net margin of 4.37% and a return on equity of 10.05%. The company had revenue of $967.08 million during the quarter, compared to analyst estimates of $990.03 million. During the same period in the prior year, the business earned $1.34 EPS. ArcBest’s revenue for the quarter was down 6.7% on a year-over-year basis. Sell-side analysts anticipate that ArcBest Corporation will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. ArcBest’s dividend payout ratio is currently 6.35%.

Analyst Ratings Changes

ARCB has been the subject of several research reports. Wall Street Zen upgraded shares of ArcBest from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Bank of America raised shares of ArcBest from an “underperform” rating to a “neutral” rating and raised their price target for the company from $63.00 to $74.00 in a research note on Tuesday, June 10th. The Goldman Sachs Group raised shares of ArcBest from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $84.00 to $101.00 in a research note on Monday, June 2nd. Truist Financial dropped their target price on ArcBest from $93.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $85.00 price objective (up from $75.00) on shares of ArcBest in a report on Tuesday, June 10th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, ArcBest presently has a consensus rating of “Hold” and an average price target of $89.42.

ArcBest Company 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.