Numeric Investors LLC lessened its stake in ArcBest Corporation (NASDAQ:ARCB) by 59.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 334,546 shares of the transportation company’s stock after selling 497,578 shares during the quarter. Numeric Investors LLC owned about 1.30% of ArcBest Corporation worth $6,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ARCB. Mason Street Advisors LLC grew its holdings in shares of ArcBest Corporation by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 5,569 shares of the transportation company’s stock worth $145,000 after purchasing an additional 362 shares during the period. Pacad Investment Ltd. lifted its position in ArcBest Corporation by 34.1% during the second quarter. Pacad Investment Ltd. now owns 5,900 shares of the transportation company’s stock valued at $122,000 after buying an additional 1,500 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in ArcBest Corporation by 61.6% during the second quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock valued at $160,000 after buying an additional 2,957 shares in the last quarter. Stephens Inc. AR grew its stake in ArcBest Corporation by 0.7% during the first quarter. Stephens Inc. AR now owns 8,728 shares of the transportation company’s stock worth $227,000 after buying an additional 60 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in ArcBest Corporation by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock worth $202,000 after buying an additional 100 shares during the period. Institutional investors own 84.91% of the company’s stock.

A number of equities analysts have recently commented on ARCB shares. Zacks Investment Research raised shares of ArcBest Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. BidaskClub cut ArcBest Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Cowen and Company reaffirmed a “buy” rating and issued a $29.00 target price on shares of ArcBest Corporation in a research report on Sunday, July 30th. TheStreet upgraded ArcBest Corporation from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of ArcBest Corporation in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.60.

In other news, VP Michael R. Johns sold 6,593 shares of ArcBest Corporation stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total transaction of $197,658.14. Following the sale, the vice president now owns 35,700 shares of the company’s stock, valued at approximately $1,070,286. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel E. Loe sold 9,929 shares of ArcBest Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $25.87, for a total value of $256,863.23. Following the sale, the insider now directly owns 33,600 shares in the company, valued at approximately $869,232. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,210 shares of company stock worth $665,376. 0.97% of the stock is currently owned by corporate insiders.

ArcBest Corporation (ARCB) opened at 33.45 on Monday. The firm’s 50-day moving average is $27.44 and its 200-day moving average is $23.98. The company has a market capitalization of $859.87 million, a P/E ratio of 38.67 and a beta of 1.77. ArcBest Corporation has a 1-year low of $16.95 and a 1-year high of $33.95.

ArcBest Corporation (NASDAQ:ARCB) last released its earnings results on Friday, July 28th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.09. The firm had revenue of $720.40 million for the quarter, compared to analyst estimates of $721.11 million. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. Equities research analysts predict that ArcBest Corporation will post $1.31 EPS for the current year.

WARNING: “ArcBest Corporation (ARCB) Shares Sold by Numeric Investors LLC” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/10/02/arcbest-corporation-arcb-shares-sold-by-numeric-investors-llc.html.

ArcBest Corporation Company Profile

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

Institutional Ownership by Quarter for ArcBest Corporation (NASDAQ:ARCB)

Receive News & Stock Ratings for ArcBest Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest Corporation and related stocks with our FREE daily email newsletter.