Principal Financial Group Inc. Has $48.01 Million Stock Holdings in ArcBest Corporation $ARCB

Principal Financial Group Inc. trimmed its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 488,115 shares of the transportation company’s stock after selling 5,665 shares during the quarter. Principal Financial Group Inc.’s holdings in ArcBest were worth $48,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. raised its position in shares of ArcBest by 126.6% in the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after purchasing an additional 567 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of ArcBest by 507.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after buying an additional 934 shares during the period. Canada Pension Plan Investment Board acquired a new position in ArcBest in the 2nd quarter valued at about $85,000. Assetmark Inc. grew its stake in ArcBest by 5,940.0% in the 4th quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after buying an additional 1,188 shares during the last quarter. Finally, KBC Group NV raised its holdings in ArcBest by 69.4% in the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 532 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARCB has been the subject of several research reports. Truist Financial raised their price objective on shares of ArcBest from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley increased their target price on ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. UBS Group lifted their price target on ArcBest from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. TD Cowen boosted their price target on ArcBest from $137.00 to $175.00 and gave the company a “hold” rating in a research note on Tuesday, June 9th. Finally, Bank of America upped their price objective on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.85.

ArcBest Stock Performance

Shares of NASDAQ:ARCB opened at $159.81 on Friday. ArcBest Corporation has a 12-month low of $59.43 and a 12-month high of $176.69. The company’s 50 day moving average price is $142.59 and its two-hundred day moving average price is $114.61. The firm has a market cap of $3.56 billion, a PE ratio of 65.77, a PEG ratio of 0.66 and a beta of 1.57. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $998.79 million during the quarter, compared to the consensus estimate of $999.07 million. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. Equities research analysts predict that ArcBest Corporation will post 6.38 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.48 annualized dividend and a yield of 0.3%. ArcBest’s payout ratio is currently 19.75%.

Trending Headlines about ArcBest

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: Zacks said earnings estimate revisions for ArcBest are trending higher, which often supports a stronger stock price when analysts expect improving profitability. Earnings Estimates Rising for ArcBest (ARCB): Will It Gain?
• Positive Sentiment: Truist reportedly raised its price target on ArcBest to $165, and Citizens JMP initiated coverage, adding to the bullish analyst backdrop. ArcBest (NASDAQ:ARCB) Given New $165.00 Price Target at Truist Financial
• Positive Sentiment: ArcBest announced a simplified brand structure and operational streamlining, with MoLo Solutions, Panther Premium Logistics, and ArcBest Technologies consolidating under the ArcBest name, a move aimed at long-term growth and efficiency. ArcBest Simplifies Brand Structure and Streamlines Operations to Drive Long-Term Growth and Efficiency
• Positive Sentiment: The company also plans to reduce about 2% of its workforce and close 10 LTL terminals, which could lower costs and improve margins if execution goes well. ArcBest to Consolidate Brands, Cut About 2% of Workforce
• Neutral Sentiment: Momentum-focused coverage noted that ArcBest has gained about 5.34% over the past week, reinforcing recent trader interest but not adding a new fundamental catalyst. ArcBest (ARCB) Is Up 5.34% in One Week: What You Should Know
• Neutral Sentiment: Zacks also highlighted ArcBest as a fast-paced momentum stock that may still be reasonably valued, which supports the stock’s current trading interest. ArcBest (ARCB) Shows Fast-paced Momentum But Is Still a Bargain Stock

ArcBest Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.