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Corebridge Financial Inc. lessened its position in shares of ArcBest Co. (NASDAQ:ARCB – Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,531 shares of the transportation company’s stock after selling 988 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of ArcBest worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in the company. Arizona State Retirement System grew its position in ArcBest by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock valued at $640,000 after acquiring an additional 108 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of ArcBest by 2.1% during the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company’s stock valued at $758,000 after purchasing an additional 170 shares during the last quarter. Blue Trust Inc. increased its position in ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after purchasing an additional 177 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in ArcBest by 5.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,123 shares of the transportation company’s stock valued at $453,000 after purchasing an additional 213 shares during the last quarter. Finally, KBC Group NV boosted its position in ArcBest by 34.9% in the fourth quarter. KBC Group NV now owns 1,148 shares of the transportation company’s stock valued at $107,000 after buying an additional 297 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.
Insider Buying and Selling
In related news, CFO John Matthew Beasley acquired 700 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $74.89 per share, with a total value of $52,423.00. Following the transaction, the chief financial officer now directly owns 8,142 shares of the company’s stock, valued at $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.28% of the stock is owned by insiders.
ArcBest Stock Performance
Shares of ARCB opened at $63.63 on Friday. The firm’s fifty day simple moving average is $81.99 and its two-hundred day simple moving average is $96.75. ArcBest Co. has a 12 month low of $57.80 and a 12 month high of $153.61. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.47 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.55.
ArcBest (NASDAQ:ARCB – Get Free Report) last released its earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the previous year, the company earned $2.47 earnings per share. As a group, analysts predict that ArcBest Co. will post 7 EPS for the current year.
ArcBest Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.75%. ArcBest’s payout ratio is presently 6.55%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Bank of America cut their price objective on ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a report on Wednesday, March 12th. The Goldman Sachs Group cut their price target on ArcBest from $126.00 to $108.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Stifel Nicolaus upped their price objective on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Citigroup cut their target price on shares of ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Truist Financial assumed coverage on shares of ArcBest in a research report on Thursday, March 13th. They issued a “buy” rating and a $93.00 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $107.00.
Read Our Latest Stock Report on ArcBest
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.
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