Capital Fund Management S.A. Trims Stock Position in ArcBest Co. (NASDAQ:ARCB)

Capital Fund Management S.A. trimmed its holdings in ArcBest Co. (NASDAQ:ARCB - Free Report) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,649 shares of the transportation company's stock after selling 16,661 shares during the quarter. Capital Fund Management S.A. owned about 0.07% of ArcBest worth $1,554,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ARCB. Arizona State Retirement System increased its position in ArcBest by 1.6% in the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock valued at $640,000 after acquiring an additional 108 shares during the period. Stephens Inc. AR grew its position in shares of ArcBest by 2.1% in the fourth quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock valued at $758,000 after purchasing an additional 170 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after acquiring an additional 177 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in ArcBest by 5.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,123 shares of the transportation company's stock valued at $453,000 after purchasing an additional 213 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of ArcBest by 34.9% during the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock worth $107,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.

ArcBest Stock Performance

NASDAQ:ARCB traded up $2.38 during mid-day trading on Friday, reaching $60.99. 248,116 shares of the company's stock were exchanged, compared to its average volume of 297,426. 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 firm has a market capitalization of $1.41 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.62. The business's fifty day simple moving average is $74.94 and its two-hundred day simple moving average is $93.23. ArcBest Co. has a one year low of $57.38 and a one year high of $146.41.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, topping the consensus estimate 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 company posted $2.47 earnings per share. Analysts anticipate that ArcBest Co. will post 7 earnings per share for the current fiscal 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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest's dividend payout ratio is currently 6.55%.

Insider Transactions at ArcBest

In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the acquisition, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at approximately $609,754.38. The trade was a 9.41 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on ARCB. Bank of America dropped their price objective on shares of ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a research report on Wednesday, March 12th. Jefferies Financial Group reduced their target price on ArcBest from $120.00 to $95.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group dropped their target price on shares of ArcBest from $108.00 to $97.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. 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, Citigroup reduced their price target on ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $101.75.

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.