Swiss National Bank Acquires 1,300 Shares of ArcBest Co. (NASDAQ:ARCB)

Swiss National Bank boosted its holdings in ArcBest Co. (NASDAQ:ARCB – Get Rating) by 2.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 59,200 shares of the transportation company’s stock after buying an additional 1,300 shares during the period. Swiss National Bank’s holdings in ArcBest were worth $4,146,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in ArcBest by 1.5% in the 3rd quarter. BlackRock Inc. now owns 3,993,690 shares of the transportation company’s stock valued at $290,461,000 after buying an additional 60,749 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of ArcBest by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 2,714,834 shares of the transportation company’s stock worth $218,544,000 after purchasing an additional 55,946 shares in the last quarter. State Street Corp lifted its holdings in shares of ArcBest by 6.3% in the 1st quarter. State Street Corp now owns 1,067,783 shares of the transportation company’s stock worth $85,957,000 after purchasing an additional 63,476 shares in the last quarter. LSV Asset Management lifted its holdings in shares of ArcBest by 5.6% in the 3rd quarter. LSV Asset Management now owns 713,249 shares of the transportation company’s stock worth $51,875,000 after purchasing an additional 37,951 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of ArcBest by 1.3% in the 3rd quarter. Nuveen Asset Management LLC now owns 359,212 shares of the transportation company’s stock worth $26,126,000 after purchasing an additional 4,453 shares in the last quarter. Institutional investors own 88.59% of the company’s stock.

ArcBest Price Performance

Shares of ArcBest stock opened at $86.21 on Friday. The business has a 50 day moving average of $90.54 and a 200 day moving average of $86.09. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.06 billion, a PE ratio of 7.29 and a beta of 1.56. ArcBest Co. has a 52 week low of $65.88 and a 52 week high of $104.87.

ArcBest (NASDAQ:ARCB – Get Rating) last posted its quarterly earnings data on Friday, April 28th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.55). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.16 billion. ArcBest had a return on equity of 27.05% and a net margin of 5.89%. ArcBest’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.08 EPS. As a group, equities research analysts forecast that ArcBest Co. will post 8.67 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.56%. ArcBest’s payout ratio is presently 4.06%.

Analyst Ratings Changes

ARCB has been the topic of a number of recent research reports. StockNews.com initiated coverage on ArcBest in a report on Thursday. They issued a “hold” rating on the stock. Bank of America lowered ArcBest from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $101.00 to $91.00 in a report on Monday, May 1st. Morgan Stanley reduced their target price on ArcBest from $138.00 to $136.00 and set an “overweight” rating for the company in a report on Tuesday, April 4th. Citigroup lifted their target price on ArcBest from $90.00 to $116.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Finally, Credit Suisse Group lifted their target price on ArcBest from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ArcBest presently has an average rating of “Moderate Buy” and a consensus price target of $116.25.

ArcBest Profile

(Get Rating)

ArcBest Corp. is a logistics company which provides end-to-end supply chain services with a focus on innovation. It operates through the following business segments: Asset-Based, ArcBest and FleetNet. The Asset-Based segment includes national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services.