American Century Companies Inc. Purchases 71,420 Shares of ArcBest Corporation $ARCB

American Century Companies Inc. boosted its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 817,091 shares of the transportation company’s stock after buying an additional 71,420 shares during the quarter. American Century Companies Inc.’s holdings in ArcBest were worth $57,090,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings in shares of ArcBest by 158.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock worth $37,740,000 after acquiring an additional 300,642 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in ArcBest during the 2nd quarter valued at $12,657,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in ArcBest by 215.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock worth $10,808,000 after purchasing an additional 104,643 shares during the period. Impala Asset Management LLC acquired a new position in ArcBest in the 2nd quarter valued at about $5,468,000. Finally, Allianz Asset Management GmbH grew its position in shares of ArcBest by 177.3% in the third quarter. Allianz Asset Management GmbH now owns 89,136 shares of the transportation company’s stock valued at $6,228,000 after purchasing an additional 56,989 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ARCB shares. Truist Financial raised their target price on shares of ArcBest from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Bank of America raised their price target on shares of ArcBest from $72.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. UBS Group reiterated a “neutral” rating and issued a $98.00 price target on shares of ArcBest in a research note on Wednesday, February 4th. TD Cowen reissued a “hold” rating on shares of ArcBest in a report on Friday, January 9th. Finally, Citigroup upped their target price on ArcBest from $104.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $97.00.

ArcBest Trading Down 5.0%

Shares of ARCB stock opened at $99.71 on Friday. ArcBest Corporation has a 1-year low of $55.19 and a 1-year high of $112.92. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 38.20, a PEG ratio of 0.75 and a beta of 1.48. The stock has a 50-day moving average of $94.29 and a 200-day moving average of $79.24.

ArcBest (NASDAQ:ARCB) last announced its 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 net margin of 1.50% and a return on equity of 6.51%. ArcBest’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. On average, equities research analysts forecast that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, February 10th. ArcBest’s dividend payout ratio is currently 18.39%.

About ArcBest

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.