New York State Common Retirement Fund Has $5.51 Million Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

New York State Common Retirement Fund reduced its stake in ArcBest Co. (NASDAQ:ARCB - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,028 shares of the transportation company's stock after selling 7,112 shares during the period. New York State Common Retirement Fund owned 0.25% of ArcBest worth $5,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in shares of ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after purchasing an additional 177 shares in the last quarter. R Squared Ltd bought a new stake in shares of ArcBest in the 4th quarter worth approximately $40,000. Quest Partners LLC raised its holdings in shares of ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company's stock worth $59,000 after purchasing an additional 206 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company's stock worth $68,000 after purchasing an additional 95 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of ArcBest by 36.8% in the 3rd quarter. KBC Group NV now owns 851 shares of the transportation company's stock worth $92,000 after purchasing an additional 229 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

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

ArcBest Stock Performance

Shares of NASDAQ ARCB traded down $4.17 during trading hours on Monday, hitting $74.60. 280,417 shares of the stock were exchanged, compared to its average volume of 306,323. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The company's 50 day moving average is $93.92 and its 200 day moving average is $102.32. The firm has a market capitalization of $1.75 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.70 and a beta of 1.51. ArcBest Co. has a one year low of $74.19 and a one year high of $153.60.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company posted $2.47 earnings per share. On average, research analysts expect that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.64%. The ex-dividend date was 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.