Public Sector Pension Investment Board Decreases Position in ArcBest Co. (NASDAQ:ARCB)

Public Sector Pension Investment Board trimmed its holdings in ArcBest Co. (NASDAQ:ARCBFree Report) by 30.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,694 shares of the transportation company’s stock after selling 12,823 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.13% of ArcBest worth $3,018,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Captrust Financial Advisors raised its holdings in shares of ArcBest by 2.6% in the second quarter. Captrust Financial Advisors now owns 4,116 shares of the transportation company’s stock worth $407,000 after buying an additional 104 shares during the period. Guidance Capital Inc. raised its holdings in shares of ArcBest by 4.9% in the third quarter. Guidance Capital Inc. now owns 2,785 shares of the transportation company’s stock worth $274,000 after buying an additional 131 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of ArcBest by 3.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 4,366 shares of the transportation company’s stock worth $444,000 after buying an additional 140 shares during the period. 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 worth $95,000 after buying an additional 159 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in ArcBest by 1.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,752 shares of the transportation company’s stock worth $1,093,000 after purchasing an additional 161 shares during the period. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ARCB shares. TD Cowen raised their price objective on ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Stephens raised their price objective on ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on ArcBest in a report on Monday, January 29th. They set a “buy” rating and a $148.00 price objective on the stock. Stifel Nicolaus increased their target price on ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. began coverage on ArcBest in a research report on Monday, March 11th. They set an “overweight” rating and a $168.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, ArcBest has an average rating of “Moderate Buy” and an average price target of $146.69.

Read Our Latest Stock Report on ARCB

ArcBest Stock Down 0.5 %

ArcBest stock opened at $128.55 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.56 and a beta of 1.49. ArcBest Co. has a 1-year low of $82.18 and a 1-year high of $149.89. The business has a fifty day moving average price of $131.37 and a 200-day moving average price of $117.00.

ArcBest (NASDAQ:ARCBGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.25. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.45 EPS. Equities research analysts forecast that ArcBest Co. will post 10.19 EPS for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.37%. ArcBest’s payout ratio is 6.07%.

Insider Buying and Selling

In related news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.65% of the stock is currently owned by company insiders.

About ArcBest

(Free Report)

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.

Read More

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.