Charles Schwab Investment Management Inc. Increases Position in ArcBest Co. (NASDAQ:ARCB)

Charles Schwab Investment Management Inc. raised its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 414,261 shares of the transportation company's stock after purchasing an additional 21,905 shares during the period. Charles Schwab Investment Management Inc. owned 1.77% of ArcBest worth $44,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Quarry LP lifted its holdings in ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company's stock worth $26,000 after buying an additional 134 shares during the period. Innealta Capital LLC purchased a new stake in ArcBest in the second quarter worth $33,000. Quest Partners LLC purchased a new position in ArcBest during the second quarter valued at $36,000. Cultivar Capital Inc. purchased a new stake in shares of ArcBest in the 2nd quarter worth about $43,000. Finally, Mather Group LLC. bought a new position in shares of ArcBest in the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 99.27% of the company's stock.

ArcBest Stock Performance

Shares of ARCB stock traded down $4.07 on Monday, reaching $111.21. The stock had a trading volume of 240,740 shares, compared to its average volume of 285,756. The stock has a market cap of $2.60 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 2.16 and a beta of 1.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50 day simple moving average of $107.49 and a 200 day simple moving average of $108.22. ArcBest Co. has a 1 year low of $94.76 and a 1 year high of $153.60.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The company's revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 EPS. Equities research analysts expect that ArcBest Co. will post 6.19 EPS for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.43%. ArcBest's dividend payout ratio (DPR) is presently 5.93%.

Insider Buying and Selling

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the transaction, the director now directly owns 23,250 shares of the company's stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the transaction, the senior vice president now directly owns 5,051 shares of the company's stock, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their position. The disclosure for this sale can be found here. 1.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ARCB. StockNews.com upgraded shares of ArcBest from a "hold" rating to a "buy" rating in a report on Thursday, October 3rd. Stifel Nicolaus reduced their price target on ArcBest from $131.00 to $119.00 and set a "buy" rating for the company in a report on Monday, October 21st. Jefferies Financial Group dropped their price target on shares of ArcBest from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, October 10th. Wolfe Research lowered shares of ArcBest from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. Finally, TD Cowen downgraded shares of ArcBest from a "buy" rating to a "hold" rating and dropped their target price for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $124.50.

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.