Ameriprise Financial Inc. Has $19.10 Million Stock Position in ArcBest Co. (NASDAQ:ARCB)

Ameriprise Financial Inc. trimmed its position in ArcBest Co. (NASDAQ:ARCB - Free Report) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. 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 ArcBest by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock worth $230,000 after acquiring an additional 157 shares during the last quarter. Stephens Inc. AR raised its stake in shares of ArcBest by 2.1% in the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock valued at $758,000 after acquiring an additional 170 shares during the period. Blue Trust Inc. lifted its holdings in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after buying an additional 177 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of ArcBest by 34.9% in the fourth quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock worth $107,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.

Insider Activity

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares of the company's stock, valued at approximately $609,754.38. The trade was a 9.41% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.28% of the stock is owned by insiders.

ArcBest Price Performance

Shares of ARCB stock traded down $0.36 during trading hours on Monday, hitting $66.57. 444,867 shares of the company's stock were exchanged, compared to its average volume of 308,013. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. ArcBest Co. has a 52 week low of $55.19 and a 52 week high of $129.83. The stock's 50-day moving average is $65.82 and its 200-day moving average is $87.06.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $990.03 million. During the same period last year, the company earned $1.34 EPS. The company's revenue was down 6.7% compared to the same quarter last year. As a group, research analysts forecast 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. Shareholders of record on Friday, May 9th will be paid a $0.12 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.72%. ArcBest's dividend payout ratio is 6.35%.

Wall Street Analysts Forecast Growth

ARCB has been the subject of several research analyst reports. Bank of America upped their price objective on shares of ArcBest from $58.00 to $67.00 and gave the stock an "underperform" rating in a report on Friday. Jefferies Financial Group lowered their price target on ArcBest from $120.00 to $95.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley cut their price objective on ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. StockNews.com upgraded ArcBest from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Stifel Nicolaus reduced their price objective on ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $88.25.

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.