New York State Teachers Retirement System Has $3.80 Million Stock Position in ArcBest Co. (NASDAQ:ARCB)

New York State Teachers Retirement System lowered its position in shares of ArcBest Co. (NASDAQ:ARCBGet Rating) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,240 shares of the transportation company’s stock after selling 300 shares during the quarter. New York State Teachers Retirement System’s holdings in ArcBest were worth $3,799,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ARCB. JPMorgan Chase & Co. boosted its position in ArcBest by 40.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 453,651 shares of the transportation company’s stock worth $31,923,000 after acquiring an additional 131,550 shares during the last quarter. Renaissance Technologies LLC boosted its position in ArcBest by 31.8% during the 1st quarter. Renaissance Technologies LLC now owns 357,739 shares of the transportation company’s stock worth $28,798,000 after acquiring an additional 86,400 shares during the last quarter. Quantedge Capital Pte Ltd boosted its position in ArcBest by 1,034.2% during the 1st quarter. Quantedge Capital Pte Ltd now owns 86,200 shares of the transportation company’s stock worth $6,939,000 after acquiring an additional 78,600 shares during the last quarter. State Street Corp boosted its position in ArcBest by 6.3% during the 1st quarter. State Street Corp now owns 1,067,783 shares of the transportation company’s stock worth $85,957,000 after acquiring an additional 63,476 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in ArcBest during the 2nd quarter worth approximately $4,341,000. Institutional investors and hedge funds own 88.59% of the company’s stock.

ArcBest Stock Down 0.7 %

ARCB opened at $78.10 on Tuesday. ArcBest Co. has a 1-year low of $65.15 and a 1-year high of $98.95. The stock’s fifty day simple moving average is $77.07 and its 200 day simple moving average is $78.43. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.91 billion, a PE ratio of 6.17, a price-to-earnings-growth ratio of 0.38 and a beta of 1.56.

ArcBest (NASDAQ:ARCBGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The transportation company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.05. ArcBest had a return on equity of 35.11% and a net margin of 6.20%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business earned $2.59 EPS. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. As a group, research analysts expect that ArcBest Co. will post 13.87 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 11th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Wednesday, November 9th. ArcBest’s dividend payout ratio (DPR) is presently 3.79%.

Analyst Ratings Changes

ARCB has been the subject of a number of recent research reports. Morgan Stanley reduced their price target on ArcBest from $139.00 to $138.00 and set an “overweight” rating for the company in a research report on Wednesday, January 11th. Credit Suisse Group increased their price objective on ArcBest from $87.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, November 2nd. Citigroup cut their price objective on ArcBest from $94.00 to $90.00 and set a “buy” rating for the company in a report on Friday, October 7th. Finally, StockNews.com assumed coverage on ArcBest in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.56.

Insider Activity at ArcBest

In other ArcBest news, insider Daniel E. Loe sold 7,555 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $81.14, for a total transaction of $613,012.70. Following the transaction, the insider now owns 26,615 shares in the company, valued at approximately $2,159,541.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.68% of the stock is owned by company insiders.

About ArcBest

(Get Rating)

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

Further Reading

Want to see what other hedge funds are holding ARCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ArcBest Co. (NASDAQ:ARCBGet Rating).

Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

Receive News & Ratings for ArcBest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest and related companies with MarketBeat.com's FREE daily email newsletter.