ArcBest Co. (NASDAQ:ARCB) Stock Holdings Trimmed by Royce & Associates LP

Royce & Associates LP reduced its position in ArcBest Co. (NASDAQ:ARCB) by 8.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,583 shares of the transportation company’s stock after selling 7,061 shares during the quarter. Royce & Associates LP’s holdings in ArcBest were worth $8,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its stake in ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 134 shares during the period. Innealta Capital LLC acquired a new position in ArcBest in the second quarter valued at approximately $33,000. Quest Partners LLC acquired a new position in ArcBest in the second quarter valued at approximately $36,000. Cultivar Capital Inc. acquired a new position in ArcBest in the second quarter valued at approximately $43,000. Finally, Mather Group LLC. acquired a new position in ArcBest in the second quarter valued at approximately $46,000. 99.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

ARCB has been the subject of a number of research reports. Morgan Stanley decreased their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Wolfe Research downgraded ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group reduced their price objective on ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Wells Fargo & Company reduced their price objective on ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $124.50.

Insider Buying and Selling at ArcBest

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the transaction, the senior vice president now owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. This represents a 67.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.65% of the stock is owned by corporate insiders.

ArcBest Stock Performance

ARCB opened at $108.39 on Monday. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 2.03 and a beta of 1.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. ArcBest Co. has a 1-year low of $94.76 and a 1-year high of $153.60. The business has a 50 day moving average price of $106.31 and a two-hundred day moving average price of $108.64.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the company earned $2.31 earnings per share. Research analysts predict that ArcBest Co. will post 6.19 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. ArcBest’s dividend payout ratio is currently 5.93%.

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.