ArcBest Corporation $ARCB Shares Purchased by Empowered Funds LLC

Empowered Funds LLC boosted its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,239 shares of the transportation company’s stock after acquiring an additional 4,123 shares during the quarter. Empowered Funds LLC owned about 0.35% of ArcBest worth $6,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC raised its stake in shares of ArcBest by 477.6% during the first quarter. Signaturefd LLC now owns 387 shares of the transportation company’s stock worth $27,000 after purchasing an additional 320 shares during the last quarter. Farther Finance Advisors LLC increased its stake in ArcBest by 433.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock valued at $30,000 after buying an additional 312 shares during the period. CWM LLC raised its position in ArcBest by 338.8% during the 1st quarter. CWM LLC now owns 452 shares of the transportation company’s stock worth $32,000 after buying an additional 349 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of ArcBest in the 2nd quarter worth $51,000. Finally, GAMMA Investing LLC lifted its stake in shares of ArcBest by 11.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,603 shares of the transportation company’s stock worth $123,000 after acquiring an additional 168 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARCB. JPMorgan Chase & Co. boosted their price target on shares of ArcBest from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Stephens downgraded ArcBest from an “overweight” rating to an “equal weight” rating and set a $72.00 target price for the company. in a research note on Thursday, November 6th. Citigroup raised ArcBest from a “neutral” rating to a “buy” rating and raised their price target for the company from $79.00 to $89.00 in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ArcBest in a report on Wednesday, October 8th. Finally, Morgan Stanley reduced their target price on ArcBest from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.67.

ArcBest Stock Performance

NASDAQ ARCB opened at $59.62 on Friday. The business has a 50 day moving average price of $70.19 and a 200 day moving average price of $71.56. The company has a market capitalization of $1.34 billion, a P/E ratio of 8.87, a PEG ratio of 1.35 and a beta of 1.67. ArcBest Corporation has a 1-year low of $55.19 and a 1-year high of $115.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Wednesday, November 5th. The transportation company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business earned $1.64 earnings per share. ArcBest’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts expect that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, November 14th. ArcBest’s dividend payout ratio (DPR) is 11.40%.

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.