AMG National Trust Bank Makes New Investment in ArcBest Corporation $ARCB

AMG National Trust Bank bought a new position in ArcBest Corporation (NASDAQ:ARCB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,049 shares of the transportation company’s stock, valued at approximately $842,000. AMG National Trust Bank owned about 0.05% of ArcBest as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Johnson Investment Counsel Inc. acquired a new position in ArcBest in the third quarter worth about $28,000. Smartleaf Asset Management LLC lifted its holdings in ArcBest by 26.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after buying an additional 143 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in ArcBest during the 2nd quarter worth approximately $85,000. Bessemer Group Inc. grew its position in shares of ArcBest by 180.9% in the 3rd quarter. Bessemer Group Inc. now owns 1,469 shares of the transportation company’s stock worth $103,000 after acquiring an additional 946 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of ArcBest by 19.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,645 shares of the transportation company’s stock valued at $127,000 after acquiring an additional 272 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

ARCB has been the topic of several research analyst reports. Stephens set a $85.00 price objective on ArcBest in a research note on Tuesday, January 6th. Truist Financial increased their target price on shares of ArcBest from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. UBS Group restated a “neutral” rating and issued a $98.00 price target on shares of ArcBest in a research report on Wednesday, February 4th. Citigroup lifted their price target on shares of ArcBest from $104.00 to $105.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Finally, Zacks Research upgraded shares of ArcBest from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $97.00.

ArcBest Trading Down 0.0%

Shares of NASDAQ:ARCB opened at $105.09 on Monday. The company has a market cap of $2.37 billion, a PE ratio of 40.26, a P/E/G ratio of 13.75 and a beta of 1.53. The company’s 50-day moving average price is $90.03 and its 200 day moving average price is $77.45. ArcBest Corporation has a fifty-two week low of $55.19 and a fifty-two week high of $112.92. 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 (NASDAQ:ARCB) last posted its earnings results on Friday, January 30th. The transportation company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.09). The firm had revenue of $972.69 million during the quarter, compared to the consensus estimate of $963.74 million. ArcBest had a return on equity of 6.51% and a net margin of 1.50%.ArcBest’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.33 EPS. Sell-side analysts anticipate that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

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

ArcBest Company 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.