Rhumbline Advisers Purchases 3,278 Shares of ArcBest Co. (NASDAQ:ARCB)

Rhumbline Advisers lifted its position in ArcBest Co. (NASDAQ:ARCB - Free Report) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,079 shares of the transportation company's stock after buying an additional 3,278 shares during the quarter. Rhumbline Advisers owned about 0.29% of ArcBest worth $6,260,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ARCB. State Street Corp increased its stake in shares of ArcBest by 1.9% in the 3rd 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 during the last quarter. Geode Capital Management LLC raised its holdings in shares of ArcBest by 0.6% in the third quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company's stock valued at $59,856,000 after purchasing an additional 3,475 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in ArcBest by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company's stock valued at $44,927,000 after purchasing an additional 21,905 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of ArcBest by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company's stock worth $24,022,000 after purchasing an additional 43,707 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ArcBest by 16.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company's stock worth $12,653,000 after purchasing an additional 16,103 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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ArcBest Stock Down 0.3 %

Shares of ARCB stock traded down $0.26 during trading hours on Friday, reaching $78.77. 508,868 shares of the stock were exchanged, compared to its average volume of 308,407. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. ArcBest Co. has a 12-month low of $78.27 and a 12-month high of $153.60. The firm has a market capitalization of $1.84 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.70 and a beta of 1.51. The business's fifty day moving average is $93.92 and its two-hundred day moving average is $102.34.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) 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 earned $2.47 earnings per share. As a group, research analysts expect that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.61%. ArcBest's dividend payout ratio is presently 6.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARCB. Wells Fargo & Company dropped their price target on ArcBest from $105.00 to $96.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Citigroup boosted their price objective on shares of ArcBest from $110.00 to $127.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. UBS Group lowered their price objective on ArcBest from $110.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus raised their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of ArcBest from $130.00 to $117.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, ArcBest presently has an average rating of "Hold" and a consensus price target of $118.91.

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.