Mutual of America Capital Management LLC Reduces Holdings in ArcBest Corporation $ARCB

Mutual of America Capital Management LLC lowered its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 94.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,943 shares of the transportation company’s stock after selling 51,426 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ArcBest were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. grew its position in shares of ArcBest by 7.1% during the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company’s stock worth $304,000 after buying an additional 285 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of ArcBest during the first quarter worth approximately $381,000. GAMMA Investing LLC grew its position in shares of ArcBest by 185.3% during the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company’s stock worth $101,000 after buying an additional 932 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of ArcBest by 23.4% during the second quarter. Public Employees Retirement System of Ohio now owns 41,971 shares of the transportation company’s stock worth $3,232,000 after buying an additional 7,955 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of ArcBest during the second quarter worth approximately $355,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of ArcBest to a “strong sell” rating in a research report on Monday, August 11th. Wells Fargo & Company cut their price objective on shares of ArcBest from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Citigroup upgraded shares of ArcBest from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $79.00 to $89.00 in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ArcBest in a research report on Wednesday, October 8th. Finally, Morgan Stanley dropped their price target on shares of ArcBest from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and a consensus price target of $90.33.

ArcBest Price Performance

Shares of ArcBest stock opened at $72.31 on Thursday. The company’s 50-day moving average price is $72.50 and its two-hundred day moving average price is $70.94. The stock has a market cap of $1.64 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.37 and a beta of 1.66. ArcBest Corporation has a 52 week low of $55.19 and a 52 week high of $123.25. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13.

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

ArcBest 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.