ArcBest Co. (NASDAQ:ARCB) SVP Michael E. Newcity Sells 10,443 Shares

ArcBest Co. (NASDAQ:ARCB) SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the sale, the senior vice president now owns 5,051 shares of the company’s stock, valued at $609,150.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

ArcBest Stock Performance

NASDAQ:ARCB traded up $2.90 during mid-day trading on Friday, hitting $115.76. 132,652 shares of the company’s stock traded hands, compared to its average volume of 289,229. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.36 and a beta of 1.47. The firm has a 50 day moving average of $104.94 and a two-hundred day moving average of $109.55. The company has a current ratio of 1.04, a quick ratio of 1.19 and a debt-to-equity ratio of 0.09. ArcBest Co. has a 12 month low of $94.76 and a 12 month high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company posted $2.31 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities analysts forecast that ArcBest Co. will post 6.69 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.41%. ArcBest’s dividend payout ratio is presently 5.93%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. lifted its position in ArcBest by 34.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after acquiring an additional 150,467 shares in the last quarter. American Century Companies Inc. boosted its position in ArcBest by 4.0% during the 2nd quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock worth $56,267,000 after acquiring an additional 20,115 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of ArcBest by 158.7% in the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock valued at $20,558,000 after purchasing an additional 117,774 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in ArcBest by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock worth $16,141,000 after purchasing an additional 1,214 shares during the last quarter. Finally, FAS Wealth Partners Inc. increased its stake in ArcBest by 86.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 80,050 shares of the transportation company’s stock valued at $8,572,000 after buying an additional 37,073 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ARCB. Bank of America lowered their price objective on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group dropped their target price on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company reduced their price target on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Morgan Stanley reduced their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.17.

ArcBest Company 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.