ArcBest Corporation $ARCB Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,662 shares of the transportation company’s stock after acquiring an additional 10,566 shares during the quarter. Public Sector Pension Investment Board owned 0.39% of ArcBest worth $6,195,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of ArcBest by 26.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 143 shares in the last quarter. Capital Advisors Inc. OK increased its holdings in ArcBest by 3.4% in the third quarter. Capital Advisors Inc. OK now owns 4,375 shares of the transportation company’s stock valued at $306,000 after buying an additional 145 shares in the last quarter. Rhumbline Advisers increased its holdings in ArcBest by 0.3% in the third quarter. Rhumbline Advisers now owns 69,115 shares of the transportation company’s stock valued at $4,829,000 after buying an additional 180 shares in the last quarter. GAMMA Investing LLC raised its position in shares of ArcBest by 12.9% in the third quarter. GAMMA Investing LLC now owns 1,809 shares of the transportation company’s stock worth $126,000 after acquiring an additional 206 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of ArcBest by 19.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,645 shares of the transportation company’s stock worth $127,000 after acquiring an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

ArcBest stock opened at $103.00 on Thursday. The company has a fifty day simple moving average of $88.89 and a 200-day simple moving average of $76.99. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 13.73 and a beta of 1.54. The company has a quick ratio of 0.98, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. ArcBest Corporation has a 52-week low of $55.19 and a 52-week high of $112.92.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.09). The business had revenue of $972.69 million for the quarter, compared to analyst estimates of $963.74 million. ArcBest had a return on equity of 6.51% and a net margin of 1.50%.The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 earnings per share. On average, equities analysts anticipate that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, February 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. ArcBest’s dividend payout ratio (DPR) is presently 18.39%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ARCB. UBS Group reiterated a “neutral” rating and set a $98.00 price target on shares of ArcBest in a research report on Wednesday, February 4th. TD Cowen reiterated a “hold” rating on shares of ArcBest in a research report on Friday, January 9th. Wells Fargo & Company lifted their price target on shares of ArcBest from $74.00 to $85.00 and gave the company an “equal weight” rating in a research note on Sunday, February 1st. Stifel Nicolaus decreased their price objective on shares of ArcBest from $96.00 to $94.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of ArcBest in a research report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $97.00.

ArcBest Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.