WINTON GROUP Ltd Invests $3.97 Million in ArcBest Corporation $ARCB

WINTON GROUP Ltd bought a new stake in ArcBest Corporation (NASDAQ:ARCB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 56,817 shares of the transportation company’s stock, valued at approximately $3,970,000.

Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in ArcBest by 26.9% during the third quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after purchasing an additional 143 shares in the last quarter. Capital Advisors Inc. OK boosted its holdings in ArcBest by 3.4% in the 3rd quarter. Capital Advisors Inc. OK now owns 4,375 shares of the transportation company’s stock valued at $306,000 after purchasing an additional 145 shares in the last quarter. Rhumbline Advisers increased its position in ArcBest by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 69,115 shares of the transportation company’s stock worth $4,829,000 after purchasing an additional 180 shares during the period. GAMMA Investing LLC increased its position in ArcBest by 12.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,809 shares of the transportation company’s stock worth $126,000 after purchasing an additional 206 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of ArcBest by 19.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,645 shares of the transportation company’s stock worth $127,000 after buying an additional 272 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Up 0.9%

Shares of NASDAQ ARCB opened at $94.14 on Tuesday. The firm’s 50-day moving average is $94.96 and its two-hundred day moving average is $79.64. The company has a market capitalization of $2.10 billion, a PE ratio of 36.07, a price-to-earnings-growth ratio of 0.67 and a beta of 1.48. ArcBest Corporation has a 12-month low of $55.19 and a 12-month high of $112.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, January 30th. The transportation company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.09). ArcBest had a return on equity of 6.51% and a net margin of 1.50%.The business had revenue of $972.69 million for the quarter, compared to analysts’ expectations of $963.74 million. During the same period last year, the business earned $1.33 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities analysts anticipate that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.48 annualized dividend and a yield of 0.5%. ArcBest’s dividend payout ratio (DPR) is presently 18.39%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARCB. Zacks Research raised ArcBest from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Wells Fargo & Company upped their price objective on ArcBest from $74.00 to $85.00 and gave the stock an “equal weight” rating in a report on Sunday, February 1st. JPMorgan Chase & Co. increased their price objective on ArcBest from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. TD Cowen restated a “hold” rating on shares of ArcBest in a research report on Friday, January 9th. Finally, Truist Financial upped their price target on shares of ArcBest from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $97.17.

About ArcBest

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.