Shay Capital LLC Buys Shares of 5,450 ArcBest Co. (NASDAQ:ARCB)

Shay Capital LLC purchased a new position in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,450 shares of the transportation company's stock, valued at approximately $509,000.

Other large investors have also bought and sold shares of the company. Barclays PLC lifted its position in ArcBest by 342.5% in the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock valued at $4,678,000 after acquiring an additional 33,386 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in ArcBest during the 4th quarter worth approximately $375,000. Lake Hills Wealth Management LLC acquired a new position in ArcBest during the 4th quarter worth approximately $414,000. Fifth Third Bancorp grew its stake in shares of ArcBest by 23.1% during the 4th quarter. Fifth Third Bancorp now owns 2,570 shares of the transportation company's stock worth $240,000 after acquiring an additional 483 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in shares of ArcBest by 4.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 18,247 shares of the transportation company's stock valued at $1,703,000 after purchasing an additional 849 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO John Matthew Beasley bought 700 shares of ArcBest stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $74.89 per share, with a total value of $52,423.00. Following the acquisition, the chief financial officer now owns 8,142 shares in the company, valued at $609,754.38. This trade represents a 9.41% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.28% of the company's stock.

ArcBest Stock Performance

ARCB stock traded down $0.64 during mid-day trading on Thursday, hitting $62.37. 91,477 shares of the company were exchanged, compared to its average volume of 307,712. ArcBest Co. has a 1-year low of $55.19 and a 1-year high of $129.83. The stock has a market capitalization of $1.43 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. The business has a 50 day simple moving average of $65.35 and a 200-day simple moving average of $86.52. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The firm had revenue of $967.08 million during the quarter, compared to analyst estimates of $990.03 million. During the same period in the prior year, the company earned $1.34 earnings per share. The business's quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities analysts forecast that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, May 9th. ArcBest's dividend payout ratio (DPR) is 6.35%.

Analyst Upgrades and Downgrades

ARCB has been the subject of several analyst reports. Wall Street Zen upgraded ArcBest from a "sell" rating to a "hold" rating in a report on Friday, May 9th. TD Cowen reduced their price target on ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Truist Financial lowered their price target on ArcBest from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Stephens reissued an "overweight" rating and issued a $116.00 price objective on shares of ArcBest in a report on Tuesday, March 11th. Finally, Bank of America raised their target price on shares of ArcBest from $58.00 to $67.00 and gave the company an "underperform" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $88.25.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.