Allspring Global Investments Holdings LLC Has $3.74 Million Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

Allspring Global Investments Holdings LLC raised its stake in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,660 shares of the transportation company's stock after buying an additional 3,140 shares during the period. Allspring Global Investments Holdings LLC owned 0.17% of ArcBest worth $3,738,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its holdings in ArcBest by 1.9% during the third quarter. State Street Corp now owns 957,410 shares of the transportation company's stock valued at $103,831,000 after buying an additional 17,542 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of ArcBest by 0.6% in the third quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company's stock worth $59,856,000 after purchasing an additional 3,475 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of ArcBest by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company's stock worth $44,927,000 after purchasing an additional 21,905 shares during the period. JPMorgan Chase & Co. increased its stake in shares of ArcBest by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company's stock worth $24,022,000 after purchasing an additional 43,707 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ArcBest by 16.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company's stock worth $12,653,000 after purchasing an additional 16,103 shares during the period. 99.27% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley dropped their price objective on ArcBest from $160.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price objective on ArcBest from $105.00 to $96.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Citigroup lifted their price objective on ArcBest from $110.00 to $127.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price objective on ArcBest from $130.00 to $117.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. Finally, UBS Group lowered their price target on ArcBest from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $118.91.

ArcBest Price Performance

NASDAQ ARCB traded up $2.15 during trading on Monday, reaching $87.42. 842,348 shares of the company traded hands, compared to its average volume of 298,059. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The stock's 50 day moving average price is $95.46 and its two-hundred day moving average price is $103.00. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 1.78 and a beta of 1.51. ArcBest Co. has a 1-year low of $81.44 and a 1-year high of $153.60.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the prior year, the business earned $2.47 EPS. As a group, analysts anticipate that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Tuesday, February 11th. ArcBest's payout ratio is currently 6.55%.

ArcBest 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.