ArcBest Co. (NASDAQ:ARCB) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. trimmed its stake in ArcBest Co. (NASDAQ:ARCB - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 371,886 shares of the transportation company's stock after selling 6,436 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.59% of ArcBest worth $40,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in ARCB. Intech Investment Management LLC lifted its position in shares of ArcBest by 92.3% in the 3rd quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company's stock worth $1,166,000 after purchasing an additional 5,161 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of ArcBest by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company's stock worth $44,927,000 after purchasing an additional 21,905 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of ArcBest by 54.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,660 shares of the transportation company's stock worth $2,945,000 after purchasing an additional 7,291 shares during the period. Partners Group Holding AG lifted its position in shares of ArcBest by 51.5% in the 3rd quarter. Partners Group Holding AG now owns 87,842 shares of the transportation company's stock worth $9,526,000 after purchasing an additional 29,849 shares during the period. Finally, Impala Asset Management LLC purchased a new stake in shares of ArcBest in the 2nd quarter worth approximately $2,409,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ARCB shares. Morgan Stanley lowered their price target on shares of ArcBest from $175.00 to $170.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Stifel Nicolaus reduced their price objective on shares of ArcBest from $131.00 to $119.00 and set a "buy" rating for the company in a research note on Monday, October 21st. TD Cowen lowered shares of 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. Wells Fargo & Company reduced their price objective on shares of ArcBest from $112.00 to $105.00 and set an "equal weight" rating for the company in a research note on Monday, November 4th. Finally, Bank of America reduced their price objective on shares of ArcBest from $102.00 to $99.00 and set an "underperform" rating for the company in a research note on Wednesday, September 4th. One equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $124.50.

ArcBest Stock Performance

Shares of NASDAQ:ARCB traded down $3.13 during midday trading on Wednesday, reaching $105.70. The company's stock had a trading volume of 113,314 shares, compared to its average volume of 284,775. The firm has a market capitalization of $2.47 billion, a PE ratio of 13.44, a P/E/G ratio of 2.08 and a beta of 1.49. ArcBest Co. has a twelve month low of $94.76 and a twelve month high of $153.60. The stock has a fifty day moving average of $107.41 and a 200 day moving average of $108.19. 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 released its quarterly earnings data 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 business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The firm's revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.31 EPS. On average, equities analysts expect that ArcBest Co. will post 6.19 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors 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 was Wednesday, November 13th. ArcBest's dividend payout ratio (DPR) is presently 5.93%.

Insider Buying and Selling

In related news, Director Craig E. Philip sold 3,900 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the sale, the director now directly owns 23,250 shares of the company's stock, valued at approximately $2,555,407.50. This represents a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

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.