ArcBest Corporation $ARCB Stake Raised by State of Wyoming

State of Wyoming boosted its holdings in ArcBest Corporation (NASDAQ:ARCB) by 448.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,551 shares of the transportation company’s stock after acquiring an additional 7,810 shares during the quarter. State of Wyoming’s holdings in ArcBest were worth $709,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in ArcBest by 300.3% during the 1st quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company’s stock worth $1,898,000 after buying an additional 20,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ArcBest by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company’s stock worth $989,000 after buying an additional 619 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in ArcBest by 215.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock worth $10,808,000 after buying an additional 104,643 shares during the period. Jane Street Group LLC raised its holdings in ArcBest by 278.2% during the 1st quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock worth $3,218,000 after buying an additional 33,537 shares during the period. Finally, Intech Investment Management LLC raised its holdings in ArcBest by 3.4% during the 1st quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company’s stock worth $1,421,000 after buying an additional 655 shares during the period. 99.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group boosted their price objective on ArcBest from $98.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. TD Cowen boosted their price objective on ArcBest from $97.00 to $137.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on ArcBest from $85.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Finally, Truist Financial upped their target price on ArcBest from $95.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, ArcBest currently has a consensus rating of “Moderate Buy” and an average price target of $123.42.

ArcBest Trading Up 2.8%

NASDAQ:ARCB opened at $146.08 on Friday. The stock’s 50 day moving average price is $117.75 and its 200 day moving average price is $97.20. ArcBest Corporation has a 52 week low of $59.43 and a 52 week high of $146.31. The company has a market capitalization of $3.25 billion, a P/E ratio of 60.12, a P/E/G ratio of 0.77 and a beta of 1.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $998.79 million for the quarter, compared to the consensus estimate of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, research analysts forecast that ArcBest Corporation will post 5.29 EPS for the current fiscal year.

ArcBest Dividend Announcement

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

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.