Dimensional Fund Advisors LP Has $137.43 Million Stock Position in ArcBest Corporation $ARCB

Dimensional Fund Advisors LP raised its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 3.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,397,287 shares of the transportation company’s stock after purchasing an additional 47,848 shares during the quarter. Dimensional Fund Advisors LP owned 6.28% of ArcBest worth $137,429,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Federated Hermes Inc. raised its stake in shares of ArcBest by 126.6% in the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after buying an additional 567 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in ArcBest by 507.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after purchasing an additional 934 shares during the period. Canada Pension Plan Investment Board acquired a new stake in ArcBest during the second quarter valued at approximately $85,000. Assetmark Inc. boosted its holdings in ArcBest by 5,940.0% during the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 1,188 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of ArcBest by 69.4% in the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 532 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Stock Down 3.5%

Shares of ArcBest stock opened at $148.87 on Tuesday. The business has a fifty day simple moving average of $147.22 and a 200 day simple moving average of $118.18. The stock has a market cap of $3.31 billion, a PE ratio of 61.26, a price-to-earnings-growth ratio of 0.55 and a beta of 1.57. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $176.69.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The firm had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Research analysts predict that ArcBest Corporation will post 6.62 EPS for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. ArcBest’s payout ratio is currently 19.75%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. The Goldman Sachs Group boosted their target price on shares of ArcBest from $117.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Citigroup initiated coverage on shares of ArcBest in a report on Wednesday, July 15th. They issued a “market outperform” rating on the stock. Bank of America increased their target price on shares of ArcBest from $138.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Finally, Weiss Ratings downgraded shares of ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.08.

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.