Rockefeller Capital Management L.P. Has $12.47 Million Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

Rockefeller Capital Management L.P. grew its holdings in ArcBest Co. (NASDAQ:ARCB - Free Report) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,984 shares of the transportation company's stock after purchasing an additional 6,505 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.49% of ArcBest worth $12,470,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ARCB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of ArcBest by 16.0% in 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 acquiring an additional 16,103 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in ArcBest by 25.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,611 shares of the transportation company's stock valued at $609,000 after purchasing an additional 1,144 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in ArcBest by 29.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,521 shares of the transportation company's stock valued at $1,358,000 after purchasing an additional 2,839 shares in the last quarter. Partners Group Holding AG boosted its stake in shares of ArcBest by 51.5% during the 3rd quarter. Partners Group Holding AG now owns 87,842 shares of the transportation company's stock worth $9,526,000 after purchasing an additional 29,849 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of ArcBest by 91.1% during the third quarter. Citigroup Inc. now owns 45,313 shares of the transportation company's stock worth $4,914,000 after buying an additional 21,606 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America decreased their target price on shares of ArcBest from $102.00 to $99.00 and set an "underperform" rating on the stock in a research report on Wednesday, September 4th. TD Cowen downgraded ArcBest from a "buy" rating to a "hold" rating and lowered their price objective for the company from $131.00 to $114.00 in a research report on Monday, October 14th. Morgan Stanley dropped their target price on ArcBest from $175.00 to $170.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on ArcBest from $130.00 to $117.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. Finally, Citigroup upped their price objective on shares of ArcBest from $110.00 to $127.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $124.50.

ArcBest Stock Down 2.1 %

Shares of ARCB stock traded down $2.38 on Tuesday, hitting $108.83. The stock had a trading volume of 236,643 shares, compared to its average volume of 278,004. ArcBest Co. has a 52-week low of $94.76 and a 52-week high of $153.60. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 2.08 and a beta of 1.49. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock's 50 day moving average is $107.49 and its 200-day moving average is $108.22.

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 (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.20). The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The company's revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.31 earnings per share. As a group, research analysts expect that ArcBest Co. will post 6.19 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Wednesday, November 13th. ArcBest's payout ratio is 5.93%.

Insider Buying and Selling

In related news, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction dated Wednesday, November 6th. The shares were 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 owns 5,051 shares in the company, valued at $609,150.60. This represents a 67.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the transaction, the director now owns 23,250 shares in the company, valued at $2,555,407.50. This represents a 14.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

ArcBest 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.