LSV Asset Management Cuts Holdings in ArcBest Co. (NASDAQ:ARCB)

LSV Asset Management lowered its position in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 498,149 shares of the transportation company's stock after selling 5,500 shares during the quarter. LSV Asset Management owned 2.13% of ArcBest worth $46,487,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after acquiring an additional 177 shares in the last quarter. R Squared Ltd bought a new position in shares of ArcBest during the fourth quarter worth about $40,000. Smartleaf Asset Management LLC raised its position in ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock valued at $51,000 after buying an additional 453 shares during the last quarter. KBC Group NV lifted its stake in ArcBest by 34.9% in the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock valued at $107,000 after acquiring an additional 297 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of ArcBest during the 4th quarter worth approximately $206,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARCB. Jefferies Financial Group dropped their target price on ArcBest from $120.00 to $95.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley cut their price objective on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Stifel Nicolaus raised their price target on ArcBest from $109.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Bank of America lowered their price target on ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a report on Wednesday, March 12th. Finally, Stephens reaffirmed an "overweight" rating and set a $116.00 target price on shares of ArcBest in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $101.75.

Insider Activity

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of ArcBest stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $74.89 per share, with a total value of $52,423.00. Following the transaction, the chief financial officer now owns 8,142 shares in the company, valued at $609,754.38. This trade represents a 9.41 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.28% of the stock is currently owned by company insiders.

ArcBest Trading Up 3.3 %

Shares of ArcBest stock traded up $1.92 during midday trading on Thursday, reaching $60.53. The company had a trading volume of 78,420 shares, compared to its average volume of 297,724. ArcBest Co. has a fifty-two week low of $57.38 and a fifty-two week high of $146.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The stock has a fifty day moving average price of $75.57 and a 200 day moving average price of $93.55. The firm has a market cap of $1.40 billion, a PE ratio of 8.24, a P/E/G ratio of 1.70 and a beta of 1.62.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period in the prior year, the company earned $2.47 earnings per share. On average, equities analysts anticipate that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.79%. 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.