O Shaughnessy Asset Management LLC trimmed its holdings in ArcBest Corp (NASDAQ:ARCB) by 2.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 250,680 shares of the transportation company’s stock after selling 6,135 shares during the period. O Shaughnessy Asset Management LLC’s holdings in ArcBest were worth $12,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Globeflex Capital L P purchased a new position in ArcBest during the 2nd quarter worth $133,000. Meeder Asset Management Inc. increased its holdings in ArcBest by 184.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,997 shares of the transportation company’s stock worth $183,000 after purchasing an additional 2,591 shares during the period. Capital Fund Management S.A. purchased a new position in ArcBest during the 2nd quarter worth $201,000. Marshall Wace LLP purchased a new position in ArcBest during the 2nd quarter worth $210,000. Finally, Xact Kapitalforvaltning AB purchased a new position in ArcBest during the 2nd quarter worth $219,000. Hedge funds and other institutional investors own 94.16% of the company’s stock.

Shares of NASDAQ ARCB opened at $39.90 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.31 and a debt-to-equity ratio of 0.33. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 0.27 and a beta of 2.26. ArcBest Corp has a 12-month low of $29.40 and a 12-month high of $51.45.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Thursday, November 1st. The transportation company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.32. The business had revenue of $826.20 million for the quarter, compared to analysts’ expectations of $815.82 million. ArcBest had a return on equity of 12.98% and a net margin of 2.92%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. As a group, equities research analysts expect that ArcBest Corp will post 3.59 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Tuesday, November 13th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 9th. This represents a $0.32 annualized dividend and a yield of 0.80%. ArcBest’s dividend payout ratio (DPR) is presently 24.06%.

Several research analysts have commented on ARCB shares. Wolfe Research downgraded ArcBest from a “peer perform” rating to an “underperform” rating in a report on Friday, October 5th. BidaskClub upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, September 27th. Stifel Nicolaus restated a “hold” rating and set a $46.00 price objective on shares of ArcBest in a report on Friday, August 3rd. Cowen raised their price objective on ArcBest from $41.00 to $46.00 and gave the stock a “market perform” rating in a report on Thursday, August 2nd. Finally, Bank of America raised their price objective on ArcBest from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $44.33.

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About ArcBest

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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