LSV Asset Management Sells 10,100 Shares of ArcBest Corporation $ARCB

LSV Asset Management reduced its position in shares of ArcBest Corporation (NASDAQ:ARCB) by 2.2% in the fourth quarter, Holdings Channel reports. The fund owned 439,149 shares of the transportation company’s stock after selling 10,100 shares during the quarter. LSV Asset Management’s holdings in ArcBest were worth $32,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bryce Point Capital LLC bought a new position in shares of ArcBest during the 3rd quarter valued at approximately $476,000. Summit Global Investments bought a new position in shares of ArcBest during the 3rd quarter valued at approximately $939,000. Allspring Global Investments Holdings LLC boosted its position in shares of ArcBest by 100.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 87,256 shares of the transportation company’s stock valued at $6,734,000 after acquiring an additional 43,803 shares during the last quarter. Aberdeen Group plc bought a new position in shares of ArcBest during the 4th quarter valued at approximately $7,240,000. Finally, WINTON GROUP Ltd bought a new position in shares of ArcBest during the 3rd quarter valued at approximately $3,970,000. 99.27% of the stock is currently owned by institutional investors.

ArcBest Stock Performance

NASDAQ:ARCB opened at $124.57 on Monday. The stock’s fifty day moving average is $109.00 and its 200 day moving average is $92.78. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $135.10. The firm has a market capitalization of $2.77 billion, a PE ratio of 51.26, a PEG ratio of 0.67 and a beta of 1.55. 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 earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The business had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. During the same quarter last year, the firm posted $0.51 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that ArcBest Corporation will post 5.29 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a $0.12 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. ArcBest’s dividend payout ratio (DPR) is presently 19.75%.

Wall Street Analysts Forecast Growth

ARCB has been the subject of a number of research reports. Citigroup increased their target price on ArcBest from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on ArcBest from $85.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Morgan Stanley restated an “overweight” rating and set a $150.00 price target on shares of ArcBest in a report on Wednesday, April 29th. Truist Financial increased their price target on ArcBest from $95.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Stifel Nicolaus increased their price target on ArcBest from $116.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. 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 stock. According to MarketBeat, ArcBest presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.42.

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.