ArcBest Corporation (NASDAQ:ARCB) Declares $0.12 Quarterly Dividend

ArcBest Corporation (NASDAQ:ARCB) announced a quarterly dividend on Friday, July 24th. Stockholders of record on Friday, August 7th will be given a dividend of 0.12 per share by the transportation company on Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 7th.

ArcBest has increased its dividend payment by an average of 0.1%per year over the last three years. ArcBest has a payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ArcBest to earn $9.50 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 5.1%.

ArcBest Price Performance

Shares of NASDAQ:ARCB opened at $144.31 on Wednesday. ArcBest has a one year low of $59.43 and a one year high of $176.69. The stock has a market cap of $3.21 billion, a PE ratio of 209.14, a price-to-earnings-growth ratio of 0.45 and a beta of 1.57. The business’s fifty day moving average price is $149.47 and its two-hundred day moving average price is $120.55. 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 released its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.12. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 EPS. On average, analysts forecast that ArcBest will post 6.9 EPS for the current fiscal year.

Institutional Trading of ArcBest

Several institutional investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA grew its holdings in ArcBest by 1.5% during the 1st quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock worth $606,000 after acquiring an additional 93 shares in the last quarter. Amundi grew its position in shares of ArcBest by 54.6% in the 1st quarter. Amundi now owns 7,478 shares of the transportation company’s stock worth $736,000 after acquiring an additional 2,640 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of ArcBest by 24.7% in the 1st quarter. California State Teachers Retirement System now owns 26,926 shares of the transportation company’s stock valued at $2,648,000 after acquiring an additional 5,325 shares during the last quarter. Empowered Funds LLC lifted its position in shares of ArcBest by 37.7% in the 1st quarter. Empowered Funds LLC now owns 158,742 shares of the transportation company’s stock worth $15,614,000 after buying an additional 43,429 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of ArcBest by 2.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 124,826 shares of the transportation company’s stock worth $12,278,000 after buying an additional 2,735 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Company 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.