ArcBest Co. (NASDAQ:ARCB) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 547,172 shares of the transportation company's stock after selling 4,649 shares during the period. Geode Capital Management LLC owned 2.34% of ArcBest worth $51,074,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in ArcBest by 1.9% in the third quarter. State Street Corp now owns 957,410 shares of the transportation company's stock worth $103,831,000 after buying an additional 17,542 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of ArcBest by 7.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,124 shares of the transportation company's stock worth $3,701,000 after acquiring an additional 2,403 shares in the last quarter. Barclays PLC raised its position in shares of ArcBest by 342.5% in the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock worth $4,678,000 after acquiring an additional 33,386 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of ArcBest during the 3rd quarter worth $485,000. Finally, Sanctuary Advisors LLC boosted its position in ArcBest by 5.4% during the third 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. Hedge funds and other institutional investors own 99.27% of the company's stock.

Insider Activity

In other ArcBest news, CFO John Matthew Beasley acquired 700 shares of the firm's stock in a transaction that occurred 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 completion of the acquisition, the chief financial officer now 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 purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.28% of the company's stock.

ArcBest Price Performance

Shares of NASDAQ:ARCB traded up $2.38 during midday trading on Friday, hitting $60.99. The company's stock had a trading volume of 248,116 shares, compared to its average volume of 297,426. The company has a market cap of $1.41 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.62. ArcBest Co. has a 12-month low of $57.38 and a 12-month high of $146.41. The business's 50 day simple moving average is $74.28 and its 200 day simple moving average is $92.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results 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 previous year, the company posted $2.47 EPS. On average, analysts forecast that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued 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 dividend payout ratio is presently 6.55%.

Wall Street Analysts Forecast Growth

Several analysts have commented on ARCB shares. Morgan Stanley decreased their price target on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. UBS Group lowered their target price on shares of ArcBest from $110.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Stephens reaffirmed an "overweight" rating and issued a $116.00 price target on shares of ArcBest in a report on Tuesday, March 11th. The Goldman Sachs Group cut their target price on ArcBest from $108.00 to $97.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Wells Fargo & Company lowered their target price on shares of ArcBest from $96.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, ArcBest currently has an average rating of "Hold" and a consensus target price of $101.75.

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.