Dimensional Fund Advisors LP Decreases Stake in ArcBest Co. (NASDAQ:ARCB)

Dimensional Fund Advisors LP cut its stake in ArcBest Co. (NASDAQ:ARCB - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,546,118 shares of the transportation company's stock after selling 46,246 shares during the period. Dimensional Fund Advisors LP owned about 6.61% of ArcBest worth $144,284,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its position in ArcBest by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock worth $640,000 after acquiring an additional 108 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of 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 purchasing an additional 157 shares during the last quarter. Stephens Inc. AR lifted its holdings in shares of ArcBest by 2.1% during the fourth quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock worth $758,000 after purchasing an additional 170 shares during the period. Blue Trust Inc. grew its position in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after buying an additional 177 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its stake in ArcBest by 5.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,123 shares of the transportation company's stock valued at $453,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Price Performance

ARCB stock traded up $1.79 on Wednesday, reaching $58.52. The company had a trading volume of 813,946 shares, compared to its average volume of 301,281. 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 company's fifty day moving average is $69.64 and its 200 day moving average is $90.83. The company has a market cap of $1.35 billion, a P/E ratio of 7.98, a PEG ratio of 1.70 and a beta of 1.62. ArcBest Co. has a 1 year low of $55.19 and a 1 year high of $129.83.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted 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 company had revenue of $967.08 million for the quarter, compared to analyst estimates of $990.03 million. During the same period in the previous year, the business earned $1.34 EPS. The firm's revenue was down 6.7% on a year-over-year basis. On average, research analysts forecast that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The firm 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, May 9th. ArcBest's dividend payout ratio is presently 6.55%.

Analysts Set New Price Targets

Several research firms have recently commented on ARCB. Wells Fargo & Company reduced their target price 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. Citigroup reduced their price objective on shares of ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Bank of America reduced their price target on ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a report on Wednesday, March 12th. Truist Financial dropped their price objective on ArcBest from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their target price on ArcBest from $97.00 to $84.00 and set a "neutral" rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $88.75.

Insider Activity

In related news, CFO John Matthew Beasley purchased 700 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $74.89 per share, with a total value of $52,423.00. Following the completion of the transaction, the chief financial officer now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.28% of the company's stock.

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.