ArcBest Co. (NASDAQ:ARCB) Shares Purchased by Moody National Bank Trust Division

Moody National Bank Trust Division boosted its holdings in ArcBest Co. (NASDAQ:ARCB) by 16.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,360 shares of the transportation company’s stock after purchasing an additional 1,066 shares during the quarter. Moody National Bank Trust Division’s holdings in ArcBest were worth $788,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ARCB. EverSource Wealth Advisors LLC lifted its holdings in shares of ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Contravisory Investment Management Inc. boosted its stake in ArcBest by 70.9% in the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after buying an additional 78 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of ArcBest in the 4th quarter valued at about $39,000. Parallel Advisors LLC lifted its stake in shares of ArcBest by 45.8% in the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 114 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of ArcBest by 51.9% in the 4th quarter. Quadrant Capital Group LLC now owns 597 shares of the transportation company’s stock valued at $72,000 after purchasing an additional 204 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Stifel Nicolaus dropped their target price on ArcBest from $159.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Wells Fargo & Company started coverage on ArcBest in a research report on Friday, June 7th. They set an “overweight” rating and a $140.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on ArcBest from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Monday. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Monday. Finally, The Goldman Sachs Group boosted their price objective on ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $144.83.

ArcBest Stock Down 0.6 %

Shares of NASDAQ ARCB traded down $0.61 during mid-day trading on Monday, reaching $104.87. 529,078 shares of the company traded hands, compared to its average volume of 305,059. The company’s fifty day moving average is $110.64 and its two-hundred day moving average is $124.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.23. ArcBest Co. has a fifty-two week low of $86.93 and a fifty-two week high of $153.60. The stock has a market cap of $2.46 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 0.98 and a beta of 1.48.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. ArcBest’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 EPS. On average, analysts expect that ArcBest Co. will post 8.26 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be given a $0.12 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.48 annualized dividend and a yield of 0.46%. ArcBest’s payout ratio is 9.66%.

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.