Eisler Capital Management Ltd. Invests $7.70 Million in ArcBest Co. (NASDAQ:ARCB)

Eisler Capital Management Ltd. bought a new position in ArcBest Co. (NASDAQ:ARCB - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 83,700 shares of the transportation company's stock, valued at approximately $7,695,000. Eisler Capital Management Ltd. owned approximately 0.36% of ArcBest at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its stake in ArcBest by 342.5% during the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock valued at $4,678,000 after acquiring an additional 33,386 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ArcBest by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company's stock valued at $24,022,000 after buying an additional 43,707 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of ArcBest during the 4th quarter valued at $375,000. Lake Hills Wealth Management LLC acquired a new stake in shares of ArcBest during the 4th quarter valued at $414,000. Finally, Fifth Third Bancorp lifted its position in shares of ArcBest by 23.1% in the 4th quarter. Fifth Third Bancorp now owns 2,570 shares of the transportation company's stock valued at $240,000 after acquiring an additional 483 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.

Insider Buying and Selling

In other 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 price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.28% of the stock is owned by corporate insiders.

ArcBest Stock Performance

ARCB stock traded down $0.76 on Friday, reaching $61.74. 395,661 shares of the company were exchanged, compared to its average volume of 304,809. The firm has a market capitalization of $1.43 billion, a PE ratio of 8.42, a PEG ratio of 1.70 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. ArcBest Co. has a 12 month low of $55.19 and a 12 month high of $129.83. The stock's fifty day moving average price is $66.40 and its 200 day moving average price is $88.32.

ArcBest (NASDAQ:ARCB - Get Free Report) last released 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). The firm had revenue of $967.08 million for the quarter, compared to the consensus estimate of $990.03 million. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The business's revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 earnings per share. 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. Shareholders of record on Friday, May 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, May 9th. ArcBest's dividend payout ratio (DPR) is 6.35%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stephens reissued an "overweight" rating and issued a $116.00 price target on shares of ArcBest in a research report on Tuesday, March 11th. Truist Financial cut their price target on ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Citigroup cut their price target on ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company cut their target price on ArcBest from $80.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group dropped their price objective on ArcBest from $100.00 to $64.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. 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. According to data from MarketBeat, ArcBest currently has an average rating of "Hold" and an average price target of $88.75.

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.