ArcBest Co. (NASDAQ:ARCB) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,344 shares of the transportation company’s stock after purchasing an additional 889 shares during the period. Wedge Capital Management L L P NC’s holdings in ArcBest were worth $2,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Allworth Financial LP lifted its holdings in ArcBest by 15,450.0% in the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 309 shares in the last quarter. SG Americas Securities LLC acquired a new stake in ArcBest in the 3rd quarter valued at about $141,000. Evergreen Capital Management LLC acquired a new position in shares of ArcBest during the 3rd quarter worth approximately $203,000. First Heartland Consultants Inc. acquired a new stake in shares of ArcBest in the third quarter valued at approximately $204,000. Finally, Greenleaf Trust acquired a new position in ArcBest during the fourth quarter worth $212,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ARCB. JPMorgan Chase & Co. lowered their price target on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Morgan Stanley upped their price objective on ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. TD Cowen lifted their target price on ArcBest from $141.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Stephens upped their price objective on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Bank of America lifted their target price on ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, ArcBest has an average rating of “Moderate Buy” and a consensus price target of $151.54.

ArcBest Price Performance

Shares of ARCB stock opened at $137.00 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.22 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.60 and a beta of 1.49. ArcBest Co. has a twelve month low of $82.18 and a twelve month high of $153.60. The firm has a fifty day simple moving average of $140.41 and a 200-day simple moving average of $124.81.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $2.45 earnings per share. The firm’s revenue was down 6.4% compared to the same quarter last year. Equities research analysts anticipate that ArcBest Co. will post 10.05 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Thursday, February 15th. ArcBest’s dividend payout ratio (DPR) is presently 6.07%.

Insider Buying and Selling

In related news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now directly owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.18% of the company’s stock.

ArcBest Company 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.