GAMMA Investing LLC Has $123,000 Stock Position in ArcBest Corporation $ARCB

GAMMA Investing LLC lifted its position in ArcBest Corporation (NASDAQ:ARCB) by 11.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,603 shares of the transportation company’s stock after buying an additional 168 shares during the quarter. GAMMA Investing LLC’s holdings in ArcBest were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ARCB. Nuveen LLC acquired a new stake in shares of ArcBest in the first quarter worth $18,460,000. Westwood Holdings Group Inc. lifted its stake in shares of ArcBest by 36.7% in the first quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company’s stock worth $61,353,000 after buying an additional 233,409 shares during the last quarter. Ancora Advisors LLC lifted its stake in shares of ArcBest by 1,812.9% in the first quarter. Ancora Advisors LLC now owns 204,587 shares of the transportation company’s stock worth $14,440,000 after buying an additional 193,892 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of ArcBest in the first quarter worth $9,202,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of ArcBest by 215.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock worth $10,808,000 after buying an additional 104,643 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Trading Up 0.7%

Shares of ARCB stock opened at $69.87 on Wednesday. ArcBest Corporation has a 52-week low of $55.19 and a 52-week high of $123.25. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 1.23 and a beta of 1.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average of $73.35 and a 200-day moving average of $70.34.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.12). ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $1.98 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts forecast that ArcBest Corporation will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. ArcBest’s dividend payout ratio is presently 7.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ARCB. Zacks Research upgraded shares of ArcBest to a “strong sell” rating in a research note on Monday, August 11th. Citigroup cut their target price on shares of ArcBest from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, September 10th. JPMorgan Chase & Co. increased their price target on shares of ArcBest from $75.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Bank of America upgraded shares of ArcBest from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $63.00 to $74.00 in a research report on Tuesday, June 10th. Finally, UBS Group raised their price target on shares of ArcBest from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $89.75.

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.