Shay Capital LLC Buys New Shares in ArcBest Co. (NASDAQ:ARCB)

Shay Capital LLC bought a new stake in ArcBest Co. (NASDAQ:ARCB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,450 shares of the transportation company's stock, valued at approximately $509,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its holdings in ArcBest by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock valued at $640,000 after buying an additional 108 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of ArcBest by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock worth $230,000 after purchasing an additional 157 shares in the last quarter. Stephens Inc. AR increased its stake in shares of ArcBest by 2.1% during the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock worth $758,000 after purchasing an additional 170 shares in the last quarter. Blue Trust Inc. increased its stake in shares of ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after purchasing an additional 177 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of ArcBest by 34.9% during the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock worth $107,000 after purchasing an additional 297 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ARCB shares. UBS Group dropped their price objective on shares of ArcBest from $100.00 to $64.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Stephens reissued an "overweight" rating and set a $116.00 price objective on shares of ArcBest in a research note on Tuesday, March 11th. Jefferies Financial Group dropped their price objective on shares of ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group decreased their target price on shares of ArcBest from $97.00 to $84.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, StockNews.com raised shares of ArcBest from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $88.25.

Insider Transactions at ArcBest

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

ArcBest Stock Down 0.6%

Shares of ARCB traded down $0.42 during midday trading on Tuesday, hitting $66.15. The company had a trading volume of 327,911 shares, compared to its average volume of 308,503. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. ArcBest Co. has a 52 week low of $55.19 and a 52 week high of $129.83. The company's 50 day moving average price is $65.56 and its 200 day moving average price is $86.68. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.70 and a beta of 1.70.

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

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, May 9th. ArcBest's dividend payout ratio is currently 6.35%.

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.