KLP Kapitalforvaltning AS Invests $439,000 in ArcBest Co. (NASDAQ:ARCB)

KLP Kapitalforvaltning AS bought a new position in ArcBest Co. (NASDAQ:ARCB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,700 shares of the transportation company's stock, valued at approximately $439,000.

Other large investors have also added to or reduced their stakes in the company. 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 valued at $1,358,000 after buying an additional 2,839 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in ArcBest by 16.0% during the third 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 acquiring an additional 16,103 shares during the period. Centiva Capital LP purchased a new stake in shares of ArcBest during the 3rd quarter valued at $552,000. Holocene Advisors LP purchased a new position in shares of ArcBest in the 3rd quarter worth about $808,000. Finally, State Street Corp increased its holdings 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 buying an additional 17,542 shares during the last quarter. Institutional investors own 99.27% of the company's stock.

Insider Activity

In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the acquisition, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. This represents a 9.41 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports 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 note on Monday, February 3rd. Wells Fargo & Company dropped their price objective on shares of ArcBest from $96.00 to $80.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Stephens reissued an "overweight" rating and issued a $116.00 price target on shares of ArcBest in a research report on Tuesday, March 11th. Jefferies Financial Group cut their price objective on shares of ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Citigroup lowered their target price on shares of ArcBest from $83.00 to $66.00 and set a "neutral" rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, ArcBest currently has an average rating of "Hold" and a consensus price target of $102.67.

ArcBest Price Performance

ARCB traded up $12.17 on Wednesday, reaching $71.76. The company had a trading volume of 1,194,583 shares, compared to its average volume of 298,726. ArcBest Co. has a 52-week low of $57.80 and a 52-week high of $152.35. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 9.79, a P/E/G ratio of 1.70 and a beta of 1.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The business has a 50 day simple moving average of $79.71 and a 200 day simple moving average of $95.57.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share 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 quarter in the previous year, the company posted $2.47 EPS. As a group, sell-side analysts anticipate that ArcBest Co. will post 7 EPS for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest's dividend payout ratio (DPR) is presently 6.55%.

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.