ArcBest Corporation $ARCB Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. boosted its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 44.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 64,931 shares of the transportation company’s stock after purchasing an additional 20,073 shares during the quarter. Bessemer Group Inc.’s holdings in ArcBest were worth $6,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of ArcBest by 100.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 87,256 shares of the transportation company’s stock worth $6,734,000 after acquiring an additional 43,803 shares during the period. Aberdeen Group plc purchased a new position in shares of ArcBest during the fourth quarter worth $7,240,000. Unison Advisors LLC acquired a new position in ArcBest during the fourth quarter valued at $780,000. Principal Financial Group Inc. lifted its position in ArcBest by 349.9% during the fourth quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock valued at $36,634,000 after purchasing an additional 384,024 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in ArcBest by 19,008.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 122,292 shares of the transportation company’s stock valued at $9,073,000 after purchasing an additional 121,652 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Price Performance

ARCB stock opened at $159.81 on Monday. ArcBest Corporation has a one year low of $59.43 and a one year high of $176.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average is $142.59 and its 200 day moving average is $114.88. The firm has a market cap of $3.56 billion, a PE ratio of 65.77, a P/E/G ratio of 0.66 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The business had revenue of $998.79 million during the quarter, compared to the consensus estimate of $999.07 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts forecast that ArcBest Corporation will post 6.38 EPS for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, May 8th. ArcBest’s payout ratio is currently 19.75%.

Key Headlines Impacting ArcBest

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: Zacks said earnings estimate revisions for ArcBest are trending higher, which often supports a stronger stock price when analysts expect improving profitability. Earnings Estimates Rising for ArcBest (ARCB): Will It Gain?
• Positive Sentiment: Truist reportedly raised its price target on ArcBest to $165, and Citizens JMP initiated coverage, adding to the bullish analyst backdrop. ArcBest (NASDAQ:ARCB) Given New $165.00 Price Target at Truist Financial
• Positive Sentiment: ArcBest announced a simplified brand structure and operational streamlining, with MoLo Solutions, Panther Premium Logistics, and ArcBest Technologies consolidating under the ArcBest name, a move aimed at long-term growth and efficiency. ArcBest Simplifies Brand Structure and Streamlines Operations to Drive Long-Term Growth and Efficiency
• Positive Sentiment: The company also plans to reduce about 2% of its workforce and close 10 LTL terminals, which could lower costs and improve margins if execution goes well. ArcBest to Consolidate Brands, Cut About 2% of Workforce
• Neutral Sentiment: Momentum-focused coverage noted that ArcBest has gained about 5.34% over the past week, reinforcing recent trader interest but not adding a new fundamental catalyst. ArcBest (ARCB) Is Up 5.34% in One Week: What You Should Know
• Neutral Sentiment: Zacks also highlighted ArcBest as a fast-paced momentum stock that may still be reasonably valued, which supports the stock’s current trading interest. ArcBest (ARCB) Shows Fast-paced Momentum But Is Still a Bargain Stock

Wall Street Analyst Weigh In

Several brokerages have weighed in on ARCB. Stephens raised ArcBest to a “strong-buy” rating in a research report on Wednesday, July 8th. Bank of America boosted their price objective on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, June 5th. JPMorgan Chase & Co. upped their target price on ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. TD Cowen raised their target price on ArcBest from $137.00 to $175.00 and gave the stock a “hold” rating in a report on Tuesday, June 9th. Finally, Morgan Stanley lifted their price target on ArcBest from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, ArcBest currently has a consensus rating of “Moderate Buy” and an average price target of $151.85.

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.