Moody Aldrich Partners LLC Buys 8,250 Shares of ArcBest Co. (NASDAQ:ARCB)

Moody Aldrich Partners LLC lifted its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 24.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,265 shares of the transportation company's stock after acquiring an additional 8,250 shares during the quarter. Moody Aldrich Partners LLC owned approximately 0.18% of ArcBest worth $4,584,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Westwood Holdings Group Inc. lifted its position in ArcBest by 34.7% during the second quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company's stock worth $62,509,000 after acquiring an additional 150,467 shares during the last quarter. American Century Companies Inc. increased its stake in shares of ArcBest by 4.0% during the second quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company's stock worth $56,267,000 after purchasing an additional 20,115 shares during the period. Marshall Wace LLP lifted its holdings in ArcBest by 158.7% during the 2nd quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company's stock worth $20,558,000 after purchasing an additional 117,774 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in ArcBest by 9.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 165,175 shares of the transportation company's stock valued at $23,537,000 after purchasing an additional 14,463 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in ArcBest by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company's stock valued at $16,141,000 after buying an additional 1,214 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Salvatore A. Abbate bought 1,000 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $103.93 per share, with a total value of $103,930.00. Following the acquisition, the director now directly owns 3,650 shares in the company, valued at approximately $379,344.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.65% of the company's stock.

ArcBest Price Performance

Shares of ArcBest stock traded up $1.80 during trading on Thursday, reaching $101.60. 217,826 shares of the company's stock were exchanged, compared to its average volume of 285,519. The firm's 50-day moving average price is $105.20 and its 200 day moving average price is $112.34. The company has a market cap of $2.38 billion, a P/E ratio of 20.44, a PEG ratio of 1.28 and a beta of 1.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. ArcBest Co. has a 1-year low of $86.93 and a 1-year high of $153.60.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its earnings results on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing analysts' consensus estimates of $2.03 by ($0.05). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The firm's revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $1.54 EPS. As a group, research analysts anticipate that ArcBest Co. will post 7.06 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.12 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.47%. ArcBest's dividend payout ratio is currently 9.66%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Stephens reissued an "overweight" rating and set a $130.00 target price on shares of ArcBest in a report on Wednesday, September 4th. TD Cowen downgraded shares of ArcBest from a "buy" rating to a "hold" rating and cut their price objective for the company from $131.00 to $114.00 in a report on Monday, October 14th. Citigroup assumed coverage on shares of ArcBest in a research report on Wednesday, October 9th. They set a "neutral" rating and a $111.00 target price on the stock. Morgan Stanley dropped their price target on shares of ArcBest from $180.00 to $176.00 and set an "overweight" rating for the company in a research report on Monday, July 8th. Finally, Wells Fargo & Company downgraded ArcBest from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $122.00 to $112.00 in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, ArcBest presently has an average rating of "Hold" and a consensus price target of $126.92.

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.