Rockefeller Capital Management L.P. Buys 48,184 Shares of ArcBest Co. (NASDAQ:ARCB)

Rockefeller Capital Management L.P. boosted its stake in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 41.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,168 shares of the transportation company's stock after acquiring an additional 48,184 shares during the period. Rockefeller Capital Management L.P. owned 0.70% of ArcBest worth $15,227,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ARCB. Blue Trust Inc. increased its stake in shares of ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after purchasing an additional 177 shares during the last quarter. R Squared Ltd bought a new position in ArcBest in the fourth quarter valued at about $40,000. Smartleaf Asset Management LLC raised its stake in ArcBest by 471.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock worth $51,000 after acquiring an additional 453 shares in the last quarter. KBC Group NV lifted its holdings in shares of ArcBest by 34.9% in the fourth quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock worth $107,000 after acquiring an additional 297 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of ArcBest in the 4th quarter valued at approximately $206,000. 99.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ARCB shares. The Goldman Sachs Group cut their target price on shares of ArcBest from $108.00 to $97.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group lowered their target price on ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Bank of America cut their price target on ArcBest from $100.00 to $73.00 and set an "underperform" rating on the stock in a research note on Wednesday, March 12th. Wells Fargo & Company lowered their price objective on ArcBest from $96.00 to $80.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Finally, Truist Financial began coverage on shares of ArcBest in a research report on Thursday, March 13th. They set a "buy" rating and a $93.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $101.75.

Insider Buying and Selling

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the business's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the acquisition, the chief financial officer now owns 8,142 shares of the company's stock, valued at approximately $609,754.38. This represents a 9.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is currently owned by insiders.

ArcBest Trading Up 4.1 %

Shares of NASDAQ ARCB traded up $2.38 during midday trading on Friday, reaching $60.99. The stock had a trading volume of 248,116 shares, compared to its average volume of 297,637. ArcBest Co. has a twelve month low of $57.38 and a twelve month high of $146.41. 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 company's 50 day moving average price is $74.94 and its 200 day moving average price is $93.23. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.62.

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

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.79%. ArcBest's payout ratio is 6.55%.

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.