ArcBest Co. (NASDAQ:ARCB) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP increased its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 38.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,590 shares of the transportation company's stock after buying an additional 4,648 shares during the period. Quantbot Technologies LP owned about 0.07% of ArcBest worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted 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 valued at $103,831,000 after purchasing an additional 17,542 shares in the last quarter. Geode Capital Management LLC lifted its stake in ArcBest by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company's stock valued at $59,856,000 after buying an additional 3,475 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ArcBest by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 426,155 shares of the transportation company's stock worth $39,769,000 after buying an additional 11,894 shares during the last quarter. Victory Capital Management Inc. increased its stake in ArcBest by 6.0% during the 4th quarter. Victory Capital Management Inc. now owns 232,627 shares of the transportation company's stock worth $21,709,000 after buying an additional 13,152 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of ArcBest by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company's stock valued at $24,022,000 after acquiring an additional 43,707 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.

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ArcBest Trading Down 3.8 %

Shares of NASDAQ:ARCB traded down $2.76 during midday trading on Friday, reaching $70.80. 233,061 shares of the company's stock were exchanged, compared to its average volume of 289,964. The firm's 50 day simple moving average is $85.70 and its two-hundred day simple moving average is $98.10. ArcBest Co. has a fifty-two week low of $68.83 and a fifty-two week high of $153.61. 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 market cap of $1.64 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its earnings results 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 period in the prior year, the firm posted $2.47 earnings per share. As a group, sell-side analysts forecast that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a $0.12 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 annualized dividend and a yield of 0.68%. ArcBest's dividend payout ratio is currently 6.55%.

Insider Buying and Selling

In other news, CFO John Matthew Beasley purchased 700 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $74.89 per share, with a total value of $52,423.00. Following the completion of the acquisition, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

ARCB has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on ArcBest from $109.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Citigroup reduced their target price on shares of ArcBest from $103.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Stephens restated an "overweight" rating and set a $116.00 price target on shares of ArcBest in a research report on Tuesday, March 11th. The Goldman Sachs Group cut their price objective on shares of ArcBest from $126.00 to $108.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Finally, UBS Group lowered their target price on ArcBest from $110.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, ArcBest presently has a consensus rating of "Hold" and a consensus price target of $107.00.

About ArcBest

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.