ArcBest Corporation $ARCB Position Lessened by WINTON GROUP Ltd

WINTON GROUP Ltd reduced its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,790 shares of the transportation company’s stock after selling 21,027 shares during the period. WINTON GROUP Ltd’s holdings in ArcBest were worth $2,655,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ARCB. Johnson Investment Counsel Inc. bought a new position in ArcBest during the third quarter valued at about $28,000. 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 valued at $47,000 after buying an additional 143 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in ArcBest by 507.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after buying an additional 934 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in ArcBest during the second quarter valued at about $85,000. Finally, Assetmark Inc. raised its holdings in ArcBest by 5,940.0% during the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after buying an additional 1,188 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ARCB has been the topic of several recent research reports. Morgan Stanley restated an “overweight” rating and set a $150.00 target price on shares of ArcBest in a report on Wednesday, April 29th. Stifel Nicolaus raised their target price on ArcBest from $116.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Bank of America raised their target price on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday. Citigroup raised their target price on ArcBest from $122.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group raised their target price on ArcBest from $102.00 to $117.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ArcBest currently has an average rating of “Moderate Buy” and a consensus price target of $131.42.

ArcBest Stock Performance

ArcBest stock opened at $155.09 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50-day simple moving average is $118.94 and its 200-day simple moving average is $97.85. The firm has a market capitalization of $3.45 billion, a PE ratio of 63.82, a PEG ratio of 0.84 and a beta of 1.55. ArcBest Corporation has a 52 week low of $59.43 and a 52 week high of $155.68.

ArcBest (NASDAQ:ARCB) last posted 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 business 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 firm’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. Equities research analysts forecast that ArcBest Corporation will post 5.29 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors 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 (DPR) is 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.