ArcBest Co. (NASDAQ:ARCB) Stock Position Decreased by abrdn plc

abrdn plc lowered its holdings in ArcBest Co. (NASDAQ:ARCB) by 23.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 182,965 shares of the transportation company’s stock after selling 55,072 shares during the period. abrdn plc’s holdings in ArcBest were worth $21,994,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ARCB. Cooper Creek Partners Management LLC acquired a new stake in shares of ArcBest during the 3rd quarter worth approximately $29,108,000. Allspring Global Investments Holdings LLC increased its position in ArcBest by 175.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 195,270 shares of the transportation company’s stock worth $19,849,000 after buying an additional 124,354 shares during the period. Wellington Management Group LLP acquired a new stake in ArcBest in the third quarter worth $10,561,000. Moody Aldrich Partners LLC bought a new stake in ArcBest in the third quarter valued at $5,835,000. Finally, Ardsley Advisory Partners LP acquired a new position in shares of ArcBest during the third quarter valued at $5,075,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ARCB shares. JPMorgan Chase & Co. cut their price objective on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. UBS Group increased their price objective on ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. TD Cowen boosted their price target on ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Stephens raised their price target on ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Bank of America upped their price objective on shares of ArcBest from $141.00 to $143.00 and gave the stock an “underperform” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $151.54.

Insider Activity

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction that occurred on 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 directly owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.18% of the stock is owned by company insiders.

ArcBest Trading Up 4.6 %

ArcBest stock opened at $145.95 on Wednesday. ArcBest Co. has a 1 year low of $82.18 and a 1 year high of $153.60. The firm’s 50 day moving average price is $140.51 and its two-hundred day moving average price is $124.72. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 0.59 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.25. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $2.45 earnings per share. ArcBest’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, research analysts predict that ArcBest Co. will post 10.05 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Thursday, February 15th. ArcBest’s dividend payout ratio (DPR) is currently 6.07%.

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.