ArcBest Co. (NASDAQ:ARCB) Stake Increased by Impala Asset Management LLC

Impala Asset Management LLC grew its holdings in ArcBest Co. (NASDAQ:ARCB - Free Report) by 51.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,000 shares of the transportation company's stock after buying an additional 11,500 shares during the quarter. ArcBest comprises 2.6% of Impala Asset Management LLC's investment portfolio, making the stock its 12th biggest holding. Impala Asset Management LLC owned 0.15% of ArcBest worth $3,687,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Barclays PLC lifted its position in shares of ArcBest by 342.5% during the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock valued at $4,678,000 after acquiring an additional 33,386 shares during the period. Public Employees Retirement System of Ohio increased its stake in 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 valued at $3,701,000 after purchasing an additional 2,403 shares in the last quarter. Zimmer Partners LP raised its holdings in ArcBest by 13.3% during the third quarter. Zimmer Partners LP now owns 85,000 shares of the transportation company's stock worth $9,218,000 after purchasing an additional 10,000 shares during the last quarter. State Street Corp boosted its position in ArcBest by 1.9% during the third quarter. State Street Corp now owns 957,410 shares of the transportation company's stock worth $103,831,000 after purchasing an additional 17,542 shares in the last quarter. Finally, Holocene Advisors LP acquired a new stake in ArcBest in the third quarter valued at $808,000. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Trading Up 1.3 %

Shares of ARCB stock traded up $1.44 during trading hours on Tuesday, hitting $112.09. 321,540 shares of the company were exchanged, compared to its average volume of 284,791. ArcBest Co. has a 1 year low of $94.76 and a 1 year high of $153.60. The firm has a fifty day moving average of $107.50 and a 200 day moving average of $108.22. The firm has a market cap of $2.62 billion, a PE ratio of 13.84, a PEG ratio of 2.47 and a beta of 1.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.20). The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The firm's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 EPS. Analysts expect that ArcBest Co. will post 6.07 earnings per share 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 issued 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 5.93%.

Insider Transactions at ArcBest

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of the 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 owns 23,250 shares of the company's stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the firm's stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ARCB. Morgan Stanley decreased their price objective on shares of ArcBest from $175.00 to $170.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group reduced their price target on shares of ArcBest from $140.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group dropped their price objective on shares of ArcBest from $133.00 to $125.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on ArcBest from $130.00 to $117.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Finally, StockNews.com raised ArcBest from a "hold" rating to a "buy" rating in a report on Thursday, October 3rd. 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 company's stock. According to MarketBeat.com, ArcBest presently has a consensus rating of "Hold" and an average target price 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.