20,742 Shares in ArcBest Corporation $ARCB Purchased by D L Carlson Investment Group Inc.

D L Carlson Investment Group Inc. acquired a new stake in shares of ArcBest Corporation (NASDAQ:ARCB) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 20,742 shares of the transportation company’s stock, valued at approximately $2,977,000.

A number of other hedge funds also recently bought and sold shares of the business. Federated Hermes Inc. raised its holdings in ArcBest by 126.6% in the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after acquiring an additional 567 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of ArcBest by 507.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after purchasing an additional 934 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of ArcBest in the second quarter valued at approximately $85,000. Assetmark Inc. grew its position in shares of ArcBest by 5,940.0% in the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in shares of ArcBest by 146.3% in the third quarter. Quantbot Technologies LP now owns 1,786 shares of the transportation company’s stock valued at $125,000 after purchasing an additional 1,061 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Insider Buying and Selling at ArcBest

In other news, insider Erin K. Gattis sold 6,163 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total value of $862,820.00. Following the transaction, the insider owned 24,286 shares of the company’s stock, valued at $3,400,040. This represents a 20.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Judy R. Mcreynolds sold 2,857 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $138.98, for a total value of $397,065.86. Following the transaction, the director owned 50,048 shares of the company’s stock, valued at approximately $6,955,671.04. This represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 11,963 shares of company stock worth $1,678,066. Corporate insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ARCB. Truist Financial lifted their price objective on ArcBest from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Zacks Research cut ArcBest from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Morgan Stanley raised their target price on ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. Finally, TD Cowen lowered their price target on shares of ArcBest from $175.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $154.23.

ArcBest Stock Down 1.3%

Shares of NASDAQ ARCB opened at $135.89 on Friday. The company has a market capitalization of $3.04 billion, a P/E ratio of 196.94, a P/E/G ratio of 0.45 and a beta of 1.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50 day simple moving average of $146.86 and a 200-day simple moving average of $124.83. ArcBest Corporation has a 1 year low of $59.43 and a 1 year high of $176.69.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.12. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. On average, equities research analysts predict that ArcBest Corporation will post 6.9 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.12 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. ArcBest’s payout ratio is currently 69.57%.

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.