SG Americas Securities LLC Purchases 3,830 Shares of ArcBest Corporation $ARCB

SG Americas Securities LLC lifted its position in shares of ArcBest Corporation (NASDAQ:ARCB) by 51.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 11,267 shares of the transportation company’s stock after acquiring an additional 3,830 shares during the quarter. SG Americas Securities LLC’s holdings in ArcBest were worth $1,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in ArcBest by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company’s stock worth $181,852,000 after acquiring an additional 6,808 shares during the period. Dimensional Fund Advisors LP grew its holdings in ArcBest by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,349,439 shares of the transportation company’s stock worth $100,117,000 after acquiring an additional 7,816 shares in the last quarter. Invesco Ltd. increased its position in ArcBest by 625.4% during the 4th quarter. Invesco Ltd. now owns 920,498 shares of the transportation company’s stock valued at $68,292,000 after purchasing an additional 793,607 shares during the period. Turtle Creek Asset Management Inc. purchased a new position in ArcBest during the 3rd quarter valued at about $39,508,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of ArcBest by 4.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 520,886 shares of the transportation company’s stock valued at $36,394,000 after purchasing an additional 24,102 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

ArcBest Stock Performance

Shares of ArcBest stock opened at $139.67 on Friday. The company has a market capitalization of $3.11 billion, a PE ratio of 57.48, a P/E/G ratio of 0.63 and a beta of 1.57. The company has a 50-day simple moving average of $137.33 and a two-hundred day simple moving average of $109.60. ArcBest Corporation has a one year low of $59.43 and a one year high of $176.69. 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 results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The business had revenue of $998.79 million for the quarter, compared to analysts’ expectations of $999.07 million. During the same period last year, the business earned $0.51 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Research analysts expect that ArcBest Corporation will post 5.87 EPS for the current fiscal 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 is presently 19.75%.

Wall Street Analysts Forecast Growth

ARCB has been the subject of several research reports. The Goldman Sachs Group upped their price target on shares of ArcBest from $117.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Wells Fargo & Company lifted their price objective on shares of ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, June 5th. TD Cowen boosted their price objective on shares of ArcBest from $137.00 to $175.00 and gave the stock a “hold” rating in a research note on Tuesday, June 9th. JPMorgan Chase & Co. upped their target price on ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. Finally, Zacks Research raised ArcBest from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.42.

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.