Jacobs Levy Equity Management Inc. Has $28.41 Million Holdings in ArcBest Co. (NASDAQ:ARCB)

Jacobs Levy Equity Management Inc. cut its stake in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 18.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 304,425 shares of the transportation company's stock after selling 67,461 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.30% of ArcBest worth $28,409,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, CFO John Matthew Beasley purchased 700 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased 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 directly owns 8,142 shares of the company's stock, valued at approximately $609,754.38. This trade represents a 9.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ARCB. Wells Fargo & Company reduced their price objective on shares of ArcBest from $80.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group reduced 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. Bank of America boosted their price objective on shares of ArcBest from $58.00 to $67.00 and gave the stock an "underperform" rating in a research note on Friday. Truist Financial reduced their price objective on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Stephens restated an "overweight" rating and issued a $116.00 price objective on shares of ArcBest in a research note on Tuesday, March 11th. One investment 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $88.25.

ArcBest Stock Performance

ArcBest stock traded down $0.86 on Friday, hitting $66.93. The company's stock had a trading volume of 315,581 shares, compared to its average volume of 307,464. ArcBest Co. has a one year low of $55.19 and a one year high of $129.83. The firm has a market cap of $1.53 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average price of $65.82 and a 200-day moving average price of $87.18.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings data 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). ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The business had revenue of $967.08 million during the quarter, compared to analyst estimates of $990.03 million. During the same quarter in the prior year, the company posted $1.34 EPS. The company's quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities analysts anticipate that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently disclosed 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 0.72%. The ex-dividend date of this dividend is Friday, May 9th. ArcBest's dividend payout ratio is 6.35%.

ArcBest 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.