UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $12.65 Million Stock Position in ArcBest Co. (NASDAQ:ARCB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 16.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,672 shares of the transportation company's stock after acquiring an additional 16,103 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.50% of ArcBest worth $12,653,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Westwood Holdings Group Inc. boosted its holdings in ArcBest by 34.7% in the second quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company's stock worth $62,509,000 after purchasing an additional 150,467 shares during the period. American Century Companies Inc. boosted its holdings in shares of ArcBest by 4.0% in the 2nd quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company's stock valued at $56,267,000 after buying an additional 20,115 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of ArcBest by 5.6% during 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 buying an additional 21,905 shares during the last quarter. Marshall Wace LLP raised its stake in ArcBest by 158.7% during the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company's stock worth $20,558,000 after acquiring an additional 117,774 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in ArcBest by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company's stock valued at $16,141,000 after acquiring an additional 1,214 shares during the period. Institutional investors own 99.27% of the company's stock.

Insider Buying and Selling at ArcBest

In other news, Director Craig E. Philip sold 3,900 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, the director now directly owns 23,250 shares of the company's stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the business's stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 5,051 shares of the company's stock, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.65% of the company's stock.

Wall Street Analysts Forecast Growth

ARCB has been the topic of a number of research reports. The Goldman Sachs Group dropped 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. Wells Fargo & Company dropped their target price on ArcBest from $112.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Monday, November 4th. Wolfe Research downgraded shares of ArcBest from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of ArcBest from a "hold" rating to a "buy" rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of ArcBest from $130.00 to $117.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $124.50.

ArcBest Price Performance

Shares of ARCB traded down $0.05 during trading hours on Friday, hitting $107.26. 208,230 shares of the company were exchanged, compared to its average volume of 230,834. The firm has a fifty day simple moving average of $107.29 and a 200-day simple moving average of $108.13. The company has a market capitalization of $2.51 billion, a PE ratio of 13.24, a PEG ratio of 2.44 and a beta of 1.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. ArcBest Co. has a one year low of $94.76 and a one year high of $153.60.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The firm's revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that ArcBest Co. will post 6.07 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.45%. ArcBest's payout ratio is presently 5.93%.

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.