LSV Asset Management Has $72.25 Million Stake in ArcBest Co. (NASDAQ:ARCB)

LSV Asset Management lowered its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 601,049 shares of the transportation company’s stock after selling 43,900 shares during the quarter. LSV Asset Management owned 2.54% of ArcBest worth $72,252,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ARCB. Northern Trust Corp raised its holdings in ArcBest by 9.4% during the 3rd quarter. Northern Trust Corp now owns 458,090 shares of the transportation company’s stock worth $46,565,000 after buying an additional 39,215 shares during the period. American Century Companies Inc. raised its holdings in shares of ArcBest by 10.5% during the third quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company’s stock worth $38,445,000 after acquiring an additional 35,968 shares during the period. Charles Schwab Investment Management Inc. increased its stake in ArcBest by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 364,314 shares of the transportation company’s stock valued at $37,033,000 after buying an additional 7,094 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in ArcBest during the 3rd quarter worth about $29,108,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of ArcBest by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 281,693 shares of the transportation company’s stock worth $28,634,000 after buying an additional 1,934 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. cut their target price on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday. TD Cowen decreased their price target on shares of ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, The Goldman Sachs Group upped their target price on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.38.

ArcBest Price Performance

Shares of NASDAQ:ARCB traded up $2.18 during trading on Friday, reaching $114.85. 378,673 shares of the company traded hands, compared to its average volume of 399,728. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. ArcBest Co. has a 52 week low of $82.18 and a 52 week high of $153.60. The firm has a market capitalization of $2.70 billion, a PE ratio of 23.11, a PEG ratio of 0.53 and a beta of 1.56. The company’s 50 day moving average is $137.54 and its two-hundred day moving average is $125.79.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.19). ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company earned $1.58 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that ArcBest Co. will post 9 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.42%. ArcBest’s dividend payout ratio is currently 9.66%.

Insiders Place Their Bets

In related news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the sale, the insider now directly owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.65% of the company’s stock.

ArcBest Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.