Cookson Peirce & Co. Inc. Acquires Shares of 10,322 ArcBest Corporation $ARCB

Cookson Peirce & Co. Inc. acquired a new stake in shares of ArcBest Corporation (NASDAQ:ARCB) in the second quarter, HoldingsChannel reports. The firm acquired 10,322 shares of the transportation company’s stock, valued at approximately $1,482,000.

Several other large investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA lifted its position in shares of ArcBest by 1.5% in the first quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock worth $606,000 after buying an additional 93 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its stake in ArcBest by 0.4% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock worth $1,706,000 after acquiring an additional 100 shares during the last quarter. Seelaus Asset Management LLC increased its stake in ArcBest by 3.5% in the 4th quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock worth $275,000 after acquiring an additional 125 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of ArcBest by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock worth $175,000 after acquiring an additional 134 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of ArcBest by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock worth $329,000 after acquiring an additional 135 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

ARCB has been the subject of a number of recent research reports. Citizens Jmp started coverage on shares of ArcBest in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $172.00 price objective on shares of ArcBest in a research report on Wednesday, July 29th. TD Cowen dropped their price objective on shares of ArcBest from $175.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. UBS Group boosted their target price on shares of ArcBest from $145.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Finally, Stifel Nicolaus upped their target price on shares of ArcBest from $134.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. One research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.23.

Insider Activity

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

ArcBest Stock Performance

ArcBest stock opened at $136.54 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. ArcBest Corporation has a 1-year low of $59.43 and a 1-year high of $176.69. The firm has a market capitalization of $3.05 billion, a P/E ratio of 197.88, a price-to-earnings-growth ratio of 0.45 and a beta of 1.57. The company’s 50-day moving average is $144.72 and its 200 day moving average is $126.11.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.12. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business earned $1.36 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts forecast that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Announces Dividend

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

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.