Semanteon Capital Management LP Takes Position in ArcBest Co. (NASDAQ:ARCB)

Semanteon Capital Management LP acquired a new position in ArcBest Co. (NASDAQ:ARCB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 10,860 shares of the transportation company's stock, valued at approximately $1,178,000. ArcBest makes up approximately 0.8% of Semanteon Capital Management LP's holdings, making the stock its 27th biggest position.

Several other large investors also recently bought and sold shares of the business. Quarry LP lifted its holdings in ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company's stock worth $26,000 after purchasing an additional 134 shares in the last quarter. Innealta Capital LLC acquired a new position in ArcBest during the 2nd quarter valued at about $33,000. Quest Partners LLC acquired a new position in shares of ArcBest in the second quarter valued at about $36,000. Cultivar Capital Inc. acquired a new position in shares of ArcBest in the second quarter valued at about $43,000. Finally, Mather Group LLC. acquired a new position in shares of ArcBest in the second quarter valued at about $46,000. 99.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on ARCB shares. The Goldman Sachs Group lowered their price target on ArcBest from $133.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Wolfe Research downgraded ArcBest from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. Stephens reiterated an "overweight" rating and set a $130.00 price objective on shares of ArcBest in a research report on Wednesday, September 4th. TD Cowen downgraded 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 report on Monday, October 14th. Finally, StockNews.com raised ArcBest from a "hold" rating to a "buy" rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $126.92.

ArcBest Price Performance

Shares of ARCB traded up $2.16 on Monday, reaching $105.94. The stock had a trading volume of 126,086 shares, compared to its average volume of 284,232. ArcBest Co. has a twelve month low of $94.76 and a twelve month high of $153.60. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $105.10 and a 200 day moving average of $111.48. The firm has a market capitalization of $2.48 billion, a PE ratio of 21.38, a PEG ratio of 1.28 and a beta of 1.46.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing analysts' consensus estimates of $2.03 by ($0.05). ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. The company's quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts expect that ArcBest Co. will post 7.06 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.45%. ArcBest's dividend payout ratio is presently 9.66%.

Insider Transactions at ArcBest

In related news, Director Salvatore A. Abbate purchased 1,000 shares of ArcBest stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $103.93 per share, with a total value of $103,930.00. Following the completion of the transaction, the director now owns 3,650 shares of the company's stock, valued at approximately $379,344.50. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.65% of the company's stock.

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.