Fmr LLC Cuts Stake in ArcBest Co. (NASDAQ:ARCB)

FMR LLC trimmed its stake in ArcBest Co. (NASDAQ:ARCB - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,299,135 shares of the transportation company's stock after selling 120,838 shares during the period. FMR LLC owned about 5.55% of ArcBest worth $121,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in ARCB. Blue Trust Inc. boosted 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 valued at $28,000 after purchasing an additional 177 shares during the period. R Squared Ltd bought a new stake in shares of ArcBest in the fourth quarter valued at about $40,000. Smartleaf Asset Management LLC lifted its stake in ArcBest by 471.9% in 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 during the period. KBC Group NV grew its holdings in 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 acquiring an additional 297 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in ArcBest during the 4th quarter valued at about $206,000. 99.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ArcBest

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ARCB shares. Stephens reiterated an "overweight" rating and set a $116.00 price objective on shares of ArcBest in a research note on Tuesday, March 11th. Jefferies Financial Group dropped their target price on ArcBest from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. UBS Group reduced their price target on ArcBest from $110.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Truist Financial began coverage on ArcBest in a research report on Thursday, March 13th. They set a "buy" rating and a $93.00 price objective on the stock. Finally, Citigroup cut their price target on shares of ArcBest from $83.00 to $66.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. One 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.com, the company has a consensus rating of "Hold" and a consensus target price of $101.75.

ArcBest Stock Performance

NASDAQ:ARCB traded up $2.38 during mid-day trading on Friday, hitting $60.99. The company's stock had a trading volume of 248,116 shares, compared to its average volume of 297,637. The business's fifty day moving average is $74.94 and its two-hundred day moving average is $93.23. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.70 and a beta of 1.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. ArcBest Co. has a 1 year low of $57.38 and a 1 year high of $146.41.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping 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 period in the prior year, the business earned $2.47 EPS. Analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

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

ArcBest Company 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.