ArcBest Co. (NASDAQ:ARCB) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its stake in ArcBest Co. (NASDAQ:ARCB) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,984 shares of the transportation company’s stock after selling 2,617 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.09% of ArcBest worth $2,522,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Horrell Capital Management Inc. grew its holdings in ArcBest by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 29,224 shares of the transportation company’s stock worth $3,513,000 after acquiring an additional 94 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ArcBest by 1.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,752 shares of the transportation company’s stock worth $1,093,000 after purchasing an additional 161 shares during the last quarter. Deutsche Bank AG grew its stake in ArcBest by 0.6% in the third quarter. Deutsche Bank AG now owns 34,001 shares of the transportation company’s stock worth $3,456,000 after purchasing an additional 191 shares in the last quarter. TD Asset Management Inc increased its holdings in ArcBest by 2.8% in the third quarter. TD Asset Management Inc now owns 7,300 shares of the transportation company’s stock valued at $742,000 after buying an additional 200 shares during the last quarter. Finally, Kendall Capital Management raised its stake in ArcBest by 6.7% during the third quarter. Kendall Capital Management now owns 3,655 shares of the transportation company’s stock valued at $372,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Trading Down 2.3 %

NASDAQ:ARCB opened at $108.36 on Thursday. ArcBest Co. has a 1 year low of $82.18 and a 1 year high of $153.60. The business has a fifty day moving average of $138.58 and a 200-day moving average of $125.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.56 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts predict that ArcBest Co. will post 10.05 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.44%. ArcBest’s payout ratio is 6.07%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

ARCB has been the subject of a number of research analyst reports. UBS Group lowered their price target on ArcBest from $150.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday. Stephens boosted 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. Stifel Nicolaus lifted their target price on ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. cut their price target on ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $143.38.

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.