Partners Group Holding AG Boosts Position in ArcBest Co. (NASDAQ:ARCB)

Partners Group Holding AG lifted its stake in ArcBest Co. (NASDAQ:ARCB - Free Report) by 51.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,842 shares of the transportation company's stock after purchasing an additional 29,849 shares during the period. Partners Group Holding AG owned about 0.38% of ArcBest worth $9,526,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of ArcBest by 54.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,660 shares of the transportation company's stock valued at $2,945,000 after purchasing an additional 7,291 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in ArcBest by 235.3% during the 1st quarter. Kennedy Capital Management LLC now owns 33,482 shares of the transportation company's stock worth $4,771,000 after purchasing an additional 23,497 shares during the last quarter. Impala Asset Management LLC purchased a new stake in ArcBest in the second quarter valued at approximately $2,409,000. Point72 DIFC Ltd purchased a new stake in shares of ArcBest during the 2nd quarter valued at about $641,000. Finally, Semanteon Capital Management LP purchased a new position in shares of ArcBest in the third quarter worth approximately $1,178,000. Hedge funds and other institutional investors own 99.27% of the company's stock.

ArcBest Price Performance

Shares of NASDAQ:ARCB traded up $0.47 during midday trading on Tuesday, hitting $113.05. 197,217 shares of the stock were exchanged, compared to its average volume of 287,087. The stock has a market cap of $2.65 billion, a P/E ratio of 13.73, a PEG ratio of 2.06 and a beta of 1.47. The company has a 50 day moving average price of $107.27 and a 200-day moving average price of $108.37. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. ArcBest Co. has a twelve month low of $94.76 and a twelve month high of $153.60.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The firm's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 earnings per share. On average, research analysts forecast that ArcBest Co. will post 6.19 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.42%. ArcBest's payout ratio is 5.93%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ARCB shares. Wolfe Research cut ArcBest from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. Wells Fargo & Company decreased their price target on ArcBest from $112.00 to $105.00 and set an "equal weight" rating for the company in a research note on Monday, November 4th. Stifel Nicolaus decreased their price objective on ArcBest from $131.00 to $119.00 and set a "buy" rating on the stock in a report on Monday, October 21st. The Goldman Sachs Group decreased their price target on ArcBest from $133.00 to $125.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Finally, Citigroup lifted their target price on shares of ArcBest from $110.00 to $127.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, ArcBest currently has an average rating of "Hold" and an average target price of $124.50.

Insider Transactions at ArcBest

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the transaction, the director now directly owns 23,250 shares in the company, valued at approximately $2,555,407.50. This represents a 14.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the transaction, the senior vice president now directly owns 5,051 shares in the company, valued at $609,150.60. This trade represents a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.