AMG National Trust Bank Acquires New Holdings in ArcBest Corporation $ARCB

AMG National Trust Bank bought a new stake in ArcBest Corporation (NASDAQ:ARCB) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,049 shares of the transportation company’s stock, valued at approximately $842,000.

Several other large investors have also recently bought and sold shares of ARCB. GSA Capital Partners LLP lifted its stake in shares of ArcBest by 115.7% in the 3rd quarter. GSA Capital Partners LLP now owns 6,353 shares of the transportation company’s stock worth $444,000 after acquiring an additional 3,408 shares during the period. Bastion Asset Management Inc. acquired a new position in shares of ArcBest during the third quarter valued at approximately $3,790,000. Public Sector Pension Investment Board raised its holdings in ArcBest by 13.5% during the third quarter. Public Sector Pension Investment Board now owns 88,662 shares of the transportation company’s stock worth $6,195,000 after purchasing an additional 10,566 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in ArcBest by 11.1% in the third quarter. Illinois Municipal Retirement Fund now owns 12,529 shares of the transportation company’s stock worth $875,000 after purchasing an additional 1,249 shares during the period. Finally, Rhumbline Advisers boosted its stake in ArcBest by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 69,115 shares of the transportation company’s stock valued at $4,829,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analyst Upgrades and Downgrades

ARCB has been the topic of several research analyst reports. Stephens set a $85.00 price target on ArcBest in a research report on Tuesday, January 6th. Zacks Research raised ArcBest from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Jefferies Financial Group boosted their price target on shares of ArcBest from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Bank of America upped their price target on shares of ArcBest from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ArcBest from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $97.00.

ArcBest Trading Down 0.0%

NASDAQ:ARCB opened at $105.09 on Monday. The stock has a fifty day simple moving average of $90.03 and a 200 day simple moving average of $77.45. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 40.26, a price-to-earnings-growth ratio of 13.75 and a beta of 1.53. ArcBest Corporation has a 1-year low of $55.19 and a 1-year 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.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, January 30th. The transportation company reported $0.36 earnings per share (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 company had revenue of $972.69 million for the quarter, compared to analyst estimates of $963.74 million. During the same quarter in the previous year, the firm posted $1.33 EPS. ArcBest’s quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts forecast that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. ArcBest’s dividend payout ratio (DPR) is currently 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.