WINTON GROUP Ltd Makes New $1.68 Million Investment in ArcBest Corporation $ARCB

WINTON GROUP Ltd purchased a new stake in ArcBest Corporation (NASDAQ:ARCB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,700 shares of the transportation company’s stock, valued at approximately $1,679,000. WINTON GROUP Ltd owned approximately 0.05% of ArcBest at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. C M Bidwell & Associates Ltd. acquired a new position in shares of ArcBest during the 2nd quarter worth approximately $74,000. Nykredit A S purchased a new stake in ArcBest in the 2nd quarter valued at approximately $75,000. Federated Hermes Inc. grew its holdings in ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after buying an additional 567 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in ArcBest by 507.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after buying an additional 934 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in ArcBest during the 2nd quarter valued at $85,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Trading Down 0.1%

Shares of ARCB opened at $134.86 on Friday. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $176.69. The company has a market capitalization of $3.01 billion, a PE ratio of 195.45, a price-to-earnings-growth ratio of 0.41 and a beta of 1.55. The stock has a fifty day moving average of $143.30 and a two-hundred day moving average of $128.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.12. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 earnings per share. As a group, analysts forecast that ArcBest Corporation will post 6.95 EPS for the current year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 7th. This represents a $0.48 annualized dividend and a yield of 0.4%. ArcBest’s dividend payout ratio is 69.57%.

Analyst Ratings Changes

ARCB has been the subject of a number of analyst reports. Truist Financial boosted their price target on ArcBest from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Stephens raised ArcBest to a “strong-buy” rating in a research note on Wednesday, July 8th. Stifel Nicolaus lifted their price objective on ArcBest from $134.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Wells Fargo & Company boosted their target price on shares of ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, June 5th. Finally, Citizens Jmp assumed coverage on shares of ArcBest in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $154.23.

Insider Transactions at ArcBest

In other news, Director Judy R. Mcreynolds sold 2,857 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $138.98, for a total transaction of $397,065.86. Following the completion of the transaction, the director owned 50,048 shares of the company’s stock, valued at $6,955,671.04. This represents a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Erin K. Gattis sold 6,163 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total transaction of $862,820.00. Following the transaction, the insider owned 24,286 shares in the company, valued at approximately $3,400,040. The trade was a 20.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 11,963 shares of company stock worth $1,678,066. 0.98% of the stock is owned by corporate insiders.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a North American logistics company headquartered in Fort Smith, Arkansas. Through its subsidiaries and service offerings, the company provides freight transportation, supply chain management and logistics solutions for businesses of various sizes.

Its asset-based operations are primarily conducted through ABF Freight, a less-than-truckload carrier that transports palletized and other freight across the United States, Canada and Mexico. ABF Freight offers regional, interregional and long-haul services, as well as time-critical, expedited, guaranteed and specialized transportation solutions.

ArcBest also provides asset-light logistics services, including truckload, expedited, final-mile, intermodal, international and managed transportation solutions.