UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 5,371 Shares of ArcBest Corporation $ARCB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ArcBest Corporation (NASDAQ:ARCB) by 9.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 60,108 shares of the transportation company’s stock after acquiring an additional 5,371 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in ArcBest were worth $8,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its stake in shares of ArcBest by 1.5% during the first quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock valued at $606,000 after purchasing an additional 93 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its stake in ArcBest by 0.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock worth $1,706,000 after buying an additional 100 shares in the last quarter. Seelaus Asset Management LLC lifted its holdings in ArcBest by 3.5% during the fourth quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock worth $275,000 after buying an additional 125 shares during the period. PNC Financial Services Group Inc. lifted its holdings in ArcBest by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock worth $175,000 after buying an additional 134 shares during the period. Finally, ProShare Advisors LLC boosted its position in ArcBest by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock valued at $329,000 after acquiring an additional 135 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

Insider Transactions at ArcBest

In other news, Director Judy McReynolds sold 2,857 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $138.98, for a total transaction of $397,065.86. Following the transaction, the director owned 50,048 shares in the company, valued at $6,955,671.04. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Erin Gattis sold 6,163 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total transaction of $862,820.00. Following the completion of the transaction, the insider directly owned 24,286 shares of the company’s stock, valued at $3,400,040. The trade was a 20.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,963 shares of company stock worth $1,678,066 in the last 90 days. Insiders own 0.98% of the company’s stock.

ArcBest Stock Performance

Shares of ARCB opened at $141.12 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.15 billion, a PE ratio of 204.52, a P/E/G ratio of 0.46 and a beta of 1.55. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $176.69. The stock has a fifty day moving average price of $143.67 and a 200-day moving average price of $127.50.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.12. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $1.36 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts predict that ArcBest Corporation will post 6.9 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. ArcBest’s payout ratio is presently 69.57%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARCB. Bank of America lifted their price target on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Citigroup reaffirmed a “market outperform” rating on shares of ArcBest in a research report on Wednesday, August 26th. Citizens Jmp started coverage on ArcBest in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of ArcBest from $134.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company increased their price target on shares of ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.23.

ArcBest 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.