Vanguard Group Inc. Has $181.85 Million Stake in ArcBest Corporation $ARCB

Vanguard Group Inc. boosted its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 0.3% in the fourth quarter, HoldingsChannel reports. The firm owned 2,451,162 shares of the transportation company’s stock after acquiring an additional 6,808 shares during the period. Vanguard Group Inc. owned approximately 0.11% of ArcBest worth $181,852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARCB. Johnson Investment Counsel Inc. acquired a new stake in ArcBest during the 3rd quarter valued at $28,000. Smartleaf Asset Management LLC increased its holdings in ArcBest by 26.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 143 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in ArcBest during the 2nd quarter valued at $85,000. Assetmark Inc. increased its holdings in ArcBest by 5,940.0% during the 4th quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 1,188 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of ArcBest by 69.4% in the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock valued at $96,000 after buying an additional 532 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Price Performance

Shares of ArcBest stock opened at $120.97 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $135.10. The business has a fifty day simple moving average of $104.38 and a 200 day simple moving average of $89.21. The stock has a market cap of $2.69 billion, a PE ratio of 49.78, a price-to-earnings-growth ratio of 0.65 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, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Research analysts predict that ArcBest Corporation will post 5.29 EPS for the current year.

ArcBest Dividend Announcement

The firm 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. The ex-dividend date is Friday, May 8th. This represents a $0.48 annualized dividend and a yield of 0.4%. ArcBest’s payout ratio is currently 19.75%.

Analyst Upgrades and Downgrades

ARCB has been the subject of several research reports. Citigroup lifted their target price on ArcBest from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Zacks Research raised ArcBest from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of ArcBest in a research note on Wednesday, January 21st. The Goldman Sachs Group lifted their target price on ArcBest from $102.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Truist Financial lifted their price objective on ArcBest from $95.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.42.

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.