Intech Investment Management LLC Boosts Stock Position in ArcBest Co. (NASDAQ:ARCB)

Intech Investment Management LLC raised its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 81.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,480 shares of the transportation company's stock after purchasing an additional 8,727 shares during the period. Intech Investment Management LLC owned 0.08% of ArcBest worth $1,818,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Blue Trust Inc. increased its holdings in ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after buying an additional 177 shares during the period. R Squared Ltd bought a new stake in ArcBest during the 4th quarter valued at $40,000. Quest Partners LLC increased its holdings in shares of ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company's stock valued at $59,000 after acquiring an additional 206 shares during the period. Smartleaf Asset Management LLC raised its position in shares of ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock worth $51,000 after acquiring an additional 453 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company's stock worth $68,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 99.27% of the company's stock.

Insiders Place Their Bets

In other news, CFO John Matthew Beasley bought 700 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the purchase, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.65% of the company's stock.

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ArcBest Stock Performance

Shares of ArcBest stock traded down $1.06 on Tuesday, reaching $73.41. 189,183 shares of the stock were exchanged, compared to its average volume of 282,985. ArcBest Co. has a twelve month low of $68.83 and a twelve month high of $153.61. The business has a 50 day moving average price of $87.37 and a two-hundred day moving average price of $98.62. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period in the prior year, the company posted $2.47 EPS. Analysts anticipate that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Tuesday, February 11th. ArcBest's payout ratio is presently 6.55%.

Analyst Ratings Changes

A number of brokerages have commented on ARCB. Truist Financial assumed coverage on shares of ArcBest in a report on Thursday, March 13th. They issued a "buy" rating and a $93.00 target price for the company. The Goldman Sachs Group lowered their target price on shares of ArcBest from $126.00 to $108.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Citigroup reduced their price target on ArcBest from $103.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Bank of America lowered their price objective on ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus upped their target price on ArcBest from $109.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, ArcBest has an average rating of "Hold" and a consensus target price of $108.33.

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.