Nisa Investment Advisors LLC Trims Position in ArcBest Co. (NASDAQ:ARCB)

Nisa Investment Advisors LLC cut its position in ArcBest Co. (NASDAQ:ARCB) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,858 shares of the transportation company’s stock after selling 200 shares during the period. Nisa Investment Advisors LLC’s holdings in ArcBest were worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Horrell Capital Management Inc. grew its stake in ArcBest by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 29,224 shares of the transportation company’s stock valued at $3,513,000 after acquiring an additional 94 shares in the last quarter. Captrust Financial Advisors grew its stake in ArcBest by 2.6% during the second quarter. Captrust Financial Advisors now owns 4,116 shares of the transportation company’s stock valued at $407,000 after acquiring an additional 104 shares in the last quarter. Guidance Capital Inc. grew its stake in ArcBest by 4.9% during the third quarter. Guidance Capital Inc. now owns 2,785 shares of the transportation company’s stock valued at $274,000 after acquiring an additional 131 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in ArcBest by 3.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 4,366 shares of the transportation company’s stock valued at $444,000 after acquiring an additional 140 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in ArcBest by 14.0% during the third quarter. Royal Bank of Canada now owns 1,297 shares of the transportation company’s stock valued at $95,000 after acquiring an additional 159 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Trading Down 2.7 %

Shares of ARCB opened at $136.24 on Friday. ArcBest Co. has a 1-year low of $82.18 and a 1-year high of $153.60. The company has a 50-day moving average of $140.66 and a 200 day moving average of $123.38. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 0.64 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business posted $2.45 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, research analysts expect that ArcBest Co. will post 10.05 EPS for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.35%. ArcBest’s payout ratio is 6.07%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Stifel Nicolaus increased their price objective on shares of ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a research report on Monday, January 29th. They set a “buy” rating and a $148.00 price objective for the company. Bank of America increased their price objective on shares of ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a research report on Monday. Finally, Morgan Stanley increased their price objective on shares of ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.54.

Insider Activity at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the transaction, the insider now owns 32,247 shares of the company’s stock, valued at approximately $4,565,530.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.65% of the stock is currently owned by company insiders.

ArcBest Company Profile

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.