ArcBest Corporation (ARCB) Director Steven Spinner Sells 4,000 Shares of Stock
ArcBest Corporation (NASDAQ:ARCB) Director Steven Spinner sold 4,000 shares of ArcBest Corporation stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $32.00, for a total value of $128,000.00. Following the sale, the director now owns 24,700 shares in the company, valued at approximately $790,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of ArcBest Corporation (NASDAQ ARCB) remained flat at $$32.35 on Friday. 215,505 shares of the company were exchanged, compared to its average volume of 237,910. ArcBest Corporation has a twelve month low of $16.95 and a twelve month high of $34.45. The company has a market cap of $829.35, a PE ratio of 26.02 and a beta of 1.78. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33.
ArcBest Corporation (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 3rd. The transportation company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. ArcBest Corporation had a return on equity of 5.34% and a net margin of 0.88%. The company had revenue of $744.30 million for the quarter, compared to analyst estimates of $750.16 million. During the same quarter in the previous year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. equities research analysts anticipate that ArcBest Corporation will post 1.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, November 13th. ArcBest Corporation’s dividend payout ratio is presently 34.04%.
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A number of analysts have recently commented on ARCB shares. ValuEngine cut ArcBest Corporation from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded ArcBest Corporation from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, October 10th. BidaskClub cut ArcBest Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Cowen and Company reiterated a “market perform” rating and set a $33.00 target price (up previously from $29.00) on shares of ArcBest Corporation in a research report on Monday, November 6th. Finally, Buckingham Research boosted their price target on ArcBest Corporation from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $30.86.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in ArcBest Corporation by 18,670.6% in the 1st quarter. BlackRock Inc. now owns 3,328,407 shares of the transportation company’s stock valued at $86,539,000 after purchasing an additional 3,310,675 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of ArcBest Corporation by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,216,925 shares of the transportation company’s stock worth $45,669,000 after acquiring an additional 83,738 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ArcBest Corporation by 3.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,192,311 shares of the transportation company’s stock worth $45,161,000 after acquiring an additional 65,211 shares in the last quarter. Towle & Co. boosted its stake in shares of ArcBest Corporation by 4.0% during the 3rd quarter. Towle & Co. now owns 984,100 shares of the transportation company’s stock worth $32,918,000 after acquiring an additional 37,976 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of ArcBest Corporation by 6.0% during the 1st quarter. State Street Corp now owns 712,078 shares of the transportation company’s stock worth $18,514,000 after acquiring an additional 40,128 shares in the last quarter. 84.80% of the stock is currently owned by institutional investors.
About ArcBest Corporation
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).
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