American Century Companies Inc. Boosts Holdings in ArcBest Corporation $ARCB

American Century Companies Inc. boosted its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 745,671 shares of the transportation company’s stock after buying an additional 55,776 shares during the quarter. American Century Companies Inc. owned approximately 3.28% of ArcBest worth $57,424,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of ArcBest by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 68,935 shares of the transportation company’s stock valued at $5,309,000 after acquiring an additional 2,318 shares during the period. Legal & General Group Plc lifted its position in ArcBest by 0.8% during the second quarter. Legal & General Group Plc now owns 63,240 shares of the transportation company’s stock valued at $4,870,000 after purchasing an additional 501 shares in the last quarter. Empowered Funds LLC grew its holdings in ArcBest by 5.4% during the second quarter. Empowered Funds LLC now owns 80,239 shares of the transportation company’s stock valued at $6,179,000 after purchasing an additional 4,123 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in ArcBest by 1.3% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,589 shares of the transportation company’s stock worth $2,510,000 after buying an additional 416 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in ArcBest by 5.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,882 shares of the transportation company’s stock worth $453,000 after buying an additional 309 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

ArcBest Price Performance

Shares of ArcBest stock opened at $64.15 on Friday. 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 Corporation has a 12 month low of $55.19 and a 12 month high of $115.76. The stock has a 50 day moving average of $69.43 and a 200 day moving average of $71.66. The firm has a market cap of $1.44 billion, a PE ratio of 9.55, a PEG ratio of 1.35 and a beta of 1.67.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Wednesday, November 5th. The transportation company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.09. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm earned $1.64 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts expect that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, November 14th. ArcBest’s dividend payout ratio (DPR) is presently 11.40%.

Analyst Ratings Changes

ARCB has been the topic of a number of analyst reports. TD Cowen lowered their price objective on ArcBest from $67.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Stifel Nicolaus upped their price target on shares of ArcBest from $81.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Morgan Stanley decreased their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of ArcBest from $85.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Finally, Stephens downgraded shares of ArcBest from an “overweight” rating to an “equal weight” rating and set a $72.00 target price for the company. in a report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.67.

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.