Oliver Luxxe Assets LLC Takes Position in ArcBest Co. (NASDAQ:ARCB)

Oliver Luxxe Assets LLC purchased a new stake in ArcBest Co. (NASDAQ:ARCBFree Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,087 shares of the transportation company’s stock, valued at approximately $972,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. TFO Wealth Partners LLC raised its stake in shares of ArcBest by 59,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,794 shares of the transportation company’s stock valued at $216,000 after acquiring an additional 1,791 shares during the period. Allianz Asset Management GmbH increased its stake in ArcBest by 586.8% during the 4th quarter. Allianz Asset Management GmbH now owns 24,314 shares of the transportation company’s stock worth $2,923,000 after buying an additional 20,774 shares during the period. 1492 Capital Management LLC increased its stake in ArcBest by 1.0% during the 4th quarter. 1492 Capital Management LLC now owns 10,605 shares of the transportation company’s stock worth $1,275,000 after buying an additional 103 shares during the period. Parallel Advisors LLC increased its stake in ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after buying an additional 114 shares during the period. Finally, Chesapeake Capital Corp IL purchased a new stake in ArcBest during the 4th quarter worth approximately $506,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Performance

NASDAQ:ARCB traded down $2.24 during trading hours on Wednesday, reaching $101.56. 242,217 shares of the company’s stock were exchanged, compared to its average volume of 310,628. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 0.97 and a beta of 1.56. The company has a 50-day moving average of $129.37 and a 200 day moving average of $126.75. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. ArcBest Co. has a 1-year low of $82.18 and a 1-year high of $153.60.

ArcBest (NASDAQ:ARCBGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 EPS. Research analysts anticipate that ArcBest Co. will post 8.51 EPS for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.47%. ArcBest’s payout ratio is currently 9.66%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARCB. UBS Group cut their target price on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Bank of America dropped their price objective on shares of ArcBest from $143.00 to $110.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 1st. Stephens increased their price objective on shares of ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Stifel Nicolaus dropped their price objective on shares of ArcBest from $159.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.69.

Read Our Latest Analysis on ArcBest

Insiders Place Their Bets

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.18% of the stock is owned by insiders.

ArcBest Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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