Greenleaf Trust Acquires Shares of 1,761 ArcBest Co. (NASDAQ:ARCB)

Greenleaf Trust acquired a new stake in ArcBest Co. (NASDAQ:ARCB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,761 shares of the transportation company’s stock, valued at approximately $212,000.

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

Insider Activity

In other news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction on Friday, March 1st. The shares were 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 filing with the SEC, which is available at this link. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCB has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. decreased their target price on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Bank of America boosted their target price on shares of ArcBest from $141.00 to $143.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. TD Cowen boosted their target price on shares of ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group boosted their target price on shares of ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.54.

ArcBest Price Performance

NASDAQ:ARCB opened at $137.00 on Thursday. The stock has a market cap of $3.22 billion, a P/E ratio of 17.32, a PEG ratio of 0.60 and a beta of 1.49. ArcBest Co. has a one year low of $82.18 and a one year high of $153.60. The company has a fifty day moving average price of $140.41 and a 200 day moving average price of $124.81. 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 released its earnings results on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, beating the consensus estimate 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 net margin of 4.41% and a return on equity of 15.91%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.45 EPS. Analysts anticipate that ArcBest Co. will post 10.05 earnings per share for the current year.

ArcBest Announces Dividend

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

About ArcBest

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.