ArcBest Corporation $ARCB Stock Holdings Boosted by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its position in shares of ArcBest Corporation (NASDAQ:ARCB) by 19,008.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,292 shares of the transportation company’s stock after purchasing an additional 121,652 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in ArcBest were worth $9,073,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bryce Point Capital LLC bought a new position in ArcBest during the 3rd quarter valued at $476,000. Summit Global Investments bought a new position in ArcBest during the 3rd quarter valued at $939,000. Allspring Global Investments Holdings LLC boosted its stake in ArcBest by 100.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 87,256 shares of the transportation company’s stock valued at $6,734,000 after purchasing an additional 43,803 shares in the last quarter. Aberdeen Group plc bought a new position in ArcBest during the 4th quarter valued at $7,240,000. Finally, WINTON GROUP Ltd bought a new position in ArcBest during the 3rd quarter valued at $3,970,000. 99.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group raised their price objective on ArcBest from $98.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Wells Fargo & Company raised their price objective on ArcBest from $85.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Stifel Nicolaus raised their price objective on ArcBest from $116.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley reissued an “overweight” rating and set a $150.00 price objective on shares of ArcBest in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. raised their price objective on ArcBest from $85.00 to $117.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.42.

ArcBest Price Performance

NASDAQ ARCB opened at $124.41 on Friday. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $135.10. The stock’s 50-day moving average is $108.35 and its two-hundred day moving average is $92.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $2.77 billion, a P/E ratio of 51.20, a price-to-earnings-growth ratio of 0.68 and a beta of 1.55.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The company had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. During the same period last year, the company earned $0.51 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that ArcBest Corporation will post 5.29 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, May 8th. ArcBest’s dividend payout ratio (DPR) is 19.75%.

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.