Public Sector Pension Investment Board Increases Stock Holdings in ArcBest Corporation $ARCB

Public Sector Pension Investment Board boosted its position in shares of ArcBest Corporation (NASDAQ:ARCB) by 13.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,662 shares of the transportation company’s stock after purchasing an additional 10,566 shares during the period. Public Sector Pension Investment Board’s holdings in ArcBest were worth $6,195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Illinois Municipal Retirement Fund increased its holdings in shares of ArcBest by 11.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 12,529 shares of the transportation company’s stock worth $875,000 after buying an additional 1,249 shares during the last quarter. Rhumbline Advisers grew its position in ArcBest by 0.3% in the third quarter. Rhumbline Advisers now owns 69,115 shares of the transportation company’s stock worth $4,829,000 after acquiring an additional 180 shares during the period. Bryce Point Capital LLC acquired a new stake in ArcBest during the third quarter worth $476,000. Johnson Investment Counsel Inc. acquired a new stake in ArcBest during the third quarter worth $28,000. Finally, Linden Thomas Advisory Services LLC raised its position in ArcBest by 2.6% in the third quarter. Linden Thomas Advisory Services LLC now owns 27,134 shares of the transportation company’s stock valued at $1,896,000 after purchasing an additional 675 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARCB. Jefferies Financial Group raised their price objective on ArcBest from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of ArcBest in a research report on Wednesday, January 21st. Wells Fargo & Company boosted their price target on shares of ArcBest from $74.00 to $85.00 and gave the company an “equal weight” rating in a research note on Sunday, February 1st. Stephens set a $85.00 price objective on shares of ArcBest in a research report on Tuesday, January 6th. Finally, UBS Group reissued a “neutral” rating and issued a $98.00 target price on shares of ArcBest in a research report on Wednesday, February 4th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $97.00.

ArcBest Price Performance

Shares of ARCB opened at $103.00 on Thursday. The company has a market cap of $2.32 billion, a P/E ratio of 39.46, a PEG ratio of 13.73 and a beta of 1.54. ArcBest Corporation has a fifty-two week low of $55.19 and a fifty-two week high of $112.92. The company has a quick ratio of 0.98, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average price is $88.89 and its 200 day moving average price is $76.99.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.09). ArcBest had a return on equity of 6.51% and a net margin of 1.50%.The business had revenue of $972.69 million during the quarter, compared to analyst estimates of $963.74 million. During the same quarter last year, the firm earned $1.33 EPS. The business’s revenue was down 2.9% on a year-over-year basis. On average, research analysts forecast that ArcBest Corporation will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, February 10th. This represents a $0.48 annualized dividend and a yield of 0.5%. ArcBest’s dividend payout ratio is 18.39%.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.