Rockefeller Capital Management L.P. Has $12.73 Million Stock Holdings in ArcBest Corporation $ARCB

Rockefeller Capital Management L.P. lowered its position in ArcBest Corporation (NASDAQ:ARCB) by 44.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,534 shares of the transportation company’s stock after selling 134,688 shares during the quarter. Rockefeller Capital Management L.P. owned 0.77% of ArcBest worth $12,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ARCB. Federated Hermes Inc. boosted its position in ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after buying an additional 567 shares during the period. Hantz Financial Services Inc. increased its position in ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after acquiring an additional 934 shares during the period. Canada Pension Plan Investment Board acquired a new position in ArcBest in the 2nd quarter valued at approximately $85,000. Assetmark Inc. lifted its holdings in shares of ArcBest by 5,940.0% during the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock worth $90,000 after purchasing an additional 1,188 shares during the period. Finally, KBC Group NV lifted its holdings in shares of ArcBest by 69.4% during the fourth quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock worth $96,000 after purchasing an additional 532 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ARCB shares. Stifel Nicolaus increased their price objective on ArcBest from $116.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. UBS Group lifted their target price on ArcBest from $98.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings lowered ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 28th. Bank of America increased their price target on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Finally, Citigroup raised their price objective on ArcBest from $150.00 to $202.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.42.

ArcBest Price Performance

Shares of NASDAQ ARCB opened at $145.18 on Thursday. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $176.69. The firm has a fifty day simple moving average of $133.37 and a 200 day simple moving average of $106.37. The company has a market capitalization of $3.23 billion, a PE ratio of 59.75, a P/E/G ratio of 0.65 and a beta of 1.55. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $999.07 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that ArcBest Corporation will post 5.87 EPS for the current year.

ArcBest Dividend Announcement

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

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.