Mercer Global Advisors Inc. ADV lowered its stake in shares of ArcBest Co. (NASDAQ:ARCB – Get Rating) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,941 shares of the transportation company’s stock after selling 1,258 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in ArcBest were worth $276,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Ronald Blue Trust Inc. boosted its stake in shares of ArcBest by 190.6% in the 4th quarter. Ronald Blue Trust Inc. now owns 462 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 303 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of ArcBest by 103.2% in the third quarter. Bessemer Group Inc. now owns 689 shares of the transportation company’s stock valued at $50,000 after buying an additional 350 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of ArcBest in the first quarter valued at about $56,000. Point72 Hong Kong Ltd bought a new position in shares of ArcBest in the second quarter valued at about $58,000. Finally, Royal Bank of Canada raised its holdings in shares of ArcBest by 14.0% in the third quarter. Royal Bank of Canada now owns 1,297 shares of the transportation company’s stock valued at $95,000 after buying an additional 159 shares during the last quarter. Institutional investors and hedge funds own 88.59% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on ARCB shares. Credit Suisse Group lifted their price target on ArcBest from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, February 6th. Stifel Nicolaus lowered their price target on ArcBest from $114.00 to $113.00 in a research note on Monday, May 1st. Citigroup upped their price target on ArcBest from $90.00 to $116.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. StockNews.com started coverage on ArcBest in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Bank of America downgraded ArcBest from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $101.00 to $91.00 in a research report on Monday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, ArcBest has a consensus rating of “Moderate Buy” and a consensus price target of $116.25.
ArcBest Stock Up 3.2 %
ArcBest (NASDAQ:ARCB – Get Rating) last posted its quarterly earnings data on Friday, April 28th. The transportation company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.55). The firm had revenue of $1.11 billion for 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%. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.08 EPS. As a group, research analysts expect that ArcBest Co. will post 8.67 earnings per share for the current year.
ArcBest Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, May 9th. ArcBest’s dividend payout ratio (DPR) is currently 4.06%.
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.
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