ArcBest Corporation Declares Quarterly Dividend of $0.08 (ARCB)
ArcBest Corporation (NASDAQ:ARCB) announced a quarterly dividend on Wednesday, November 1st, Wall Street Journal reports. Stockholders of record on Tuesday, November 14th will be paid a dividend of 0.08 per share by the transportation company on Tuesday, November 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Monday, November 13th.
In other ArcBest Corporation news, VP Michael R. Johns sold 6,593 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total transaction of $197,658.14. Following the transaction, the vice president now owns 35,700 shares in the company, valued at approximately $1,070,286. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel E. Loe sold 9,929 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $25.87, for a total value of $256,863.23. Following the transaction, the insider now owns 33,600 shares in the company, valued at approximately $869,232. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,210 shares of company stock worth $665,376. 0.97% of the stock is owned by company insiders.
A number of research firms have recently weighed in on ARCB. Cowen and Company lowered ArcBest Corporation from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Stifel Nicolaus restated a “hold” rating and set a $28.00 price target on shares of ArcBest Corporation in a report on Thursday, September 21st. Deutsche Bank AG restated a “hold” rating and set a $29.00 price target (up previously from $26.00) on shares of ArcBest Corporation in a report on Wednesday, August 9th. TheStreet upgraded ArcBest Corporation from a “c” rating to a “b-” rating in a report on Friday, July 28th. Finally, Zacks Investment Research downgraded ArcBest Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.83.
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ArcBest Corporation Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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