Holocene Advisors LP Purchases New Holdings in ArcBest Co. (NASDAQ:ARCB)

Holocene Advisors LP bought a new stake in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 7,453 shares of the transportation company's stock, valued at approximately $808,000.

Other institutional investors have also recently bought and sold shares of the company. Centiva Capital LP purchased a new stake in ArcBest in the third quarter valued at approximately $552,000. Rockefeller Capital Management L.P. lifted its position in ArcBest by 6.0% during the third quarter. Rockefeller Capital Management L.P. now owns 114,984 shares of the transportation company's stock valued at $12,470,000 after buying an additional 6,505 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ArcBest by 16.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company's stock worth $12,653,000 after purchasing an additional 16,103 shares during the last quarter. Glenmede Trust Co. NA raised its position in ArcBest by 25.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,611 shares of the transportation company's stock worth $609,000 after buying an additional 1,144 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in ArcBest by 29.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,521 shares of the transportation company's stock worth $1,358,000 after buying an additional 2,839 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.

Insider Transactions at ArcBest

In other news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction that occurred 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 sale, the director now directly owns 23,250 shares in the company, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael E. Newcity sold 10,443 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the sale, the senior vice president now directly owns 5,051 shares in the company, 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 company insiders.

ArcBest Price Performance

Shares of ARCB stock traded down $0.05 during mid-day trading on Friday, hitting $107.26. 208,230 shares of the stock traded hands, compared to its average volume of 230,834. ArcBest Co. has a twelve month low of $94.76 and a twelve month high of $153.60. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.49. The company's 50-day simple moving average is $107.29 and its 200-day simple moving average is $108.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business earned $2.31 EPS. The business's quarterly revenue was down 5.8% on a year-over-year basis. As a group, equities research analysts expect that ArcBest Co. will post 6.07 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Wednesday, November 13th. ArcBest's payout ratio is 5.93%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ARCB shares. Citigroup upped their price target on ArcBest from $110.00 to $127.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Wolfe Research downgraded ArcBest from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. UBS Group dropped their price target on ArcBest from $111.00 to $110.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group dropped their price objective on ArcBest from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. Finally, TD Cowen cut ArcBest from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $124.50.

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.