ArcBest Co. (NASDAQ:ARCB) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its holdings in ArcBest Co. (NASDAQ:ARCB - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 204,635 shares of the transportation company's stock after selling 8,124 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.87% of ArcBest worth $19,097,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock worth $4,678,000 after buying an additional 33,386 shares during the period. Crossmark Global Holdings Inc. purchased a new position in ArcBest in the 4th quarter worth $375,000. Lake Hills Wealth Management LLC acquired a new stake in ArcBest during the 4th quarter worth about $414,000. Fifth Third Bancorp grew its stake in ArcBest by 23.1% during the 4th quarter. Fifth Third Bancorp now owns 2,570 shares of the transportation company's stock valued at $240,000 after purchasing an additional 483 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased 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 period. 99.27% of the stock is currently owned by institutional investors.

Insider Activity 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, for a total transaction of $52,423.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.28% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ARCB shares. Bank of America lifted their target price on ArcBest from $58.00 to $67.00 and gave the stock an "underperform" rating in a report on Friday, May 16th. Stephens reaffirmed an "overweight" rating and issued a $116.00 price objective on shares of ArcBest in a report on Tuesday, March 11th. Citigroup cut their price objective on shares of ArcBest from $83.00 to $66.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. StockNews.com raised shares of ArcBest from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Jefferies Financial Group cut their price target on ArcBest from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $88.25.

ArcBest Trading Down 2.4%

Shares of ARCB traded down $1.60 during midday trading on Wednesday, hitting $64.55. 20,871 shares of the stock were exchanged, compared to its average volume of 307,386. The firm has a market cap of $1.48 billion, a P/E ratio of 8.81, a P/E/G ratio of 1.70 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The stock has a fifty day simple moving average of $65.56 and a 200 day simple moving average of $86.68. ArcBest Co. has a 52-week low of $55.19 and a 52-week high of $129.83.

ArcBest (NASDAQ:ARCB - Get Free Report) last released 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). The business had revenue of $967.08 million during the quarter, compared to analysts' expectations of $990.03 million. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The company's revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. On average, research analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal 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 issued a $0.12 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.74%. ArcBest's dividend payout ratio is presently 6.35%.

About ArcBest

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.