Envestnet Asset Management Inc. Purchases 5,835 Shares of ArcBest Co. (NASDAQ:ARCB)

Envestnet Asset Management Inc. grew its position in ArcBest Co. (NASDAQ:ARCB - Free Report) by 18.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,597 shares of the transportation company's stock after purchasing an additional 5,835 shares during the quarter. Envestnet Asset Management Inc. owned about 0.16% of ArcBest worth $3,509,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of ArcBest by 4.2% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 257,060 shares of the transportation company's stock valued at $23,989,000 after acquiring an additional 10,390 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in ArcBest in the 4th quarter valued at $243,000. Bryce Point Capital LLC acquired a new stake in ArcBest during the fourth quarter worth about $305,000. Franklin Resources Inc. lifted its stake in ArcBest by 4.3% during the fourth quarter. Franklin Resources Inc. now owns 7,406 shares of the transportation company's stock worth $691,000 after purchasing an additional 305 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in ArcBest by 9.4% in the fourth quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company's stock valued at $240,011,000 after buying an additional 220,325 shares in the last quarter. Institutional investors own 99.27% of the company's stock.

Insiders Place Their Bets

In other ArcBest news, CFO John Matthew Beasley acquired 700 shares of ArcBest stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the purchase, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.28% of the stock is currently owned by insiders.

ArcBest Trading Up 3.2 %

Shares of ArcBest stock traded up $1.79 on Wednesday, hitting $58.52. 813,946 shares of the company's stock traded hands, compared to its average volume of 301,281. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.70 and a beta of 1.62. The company has a fifty day moving average of $69.64 and a two-hundred day moving average of $90.83. 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 one year low of $55.19 and a one year 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). ArcBest had a return on equity of 11.79% and a net margin of 4.16%. The company had revenue of $967.08 million for the quarter, compared to the consensus estimate of $990.03 million. During the same period last year, the company earned $1.34 EPS. ArcBest's revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given 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 payout ratio is currently 6.55%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ARCB. TD Cowen lowered their price objective on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a research report on Wednesday. Bank of America cut their price objective on ArcBest from $100.00 to $73.00 and set an "underperform" rating on the stock in a report on Wednesday, March 12th. Jefferies Financial Group lowered their target price on ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Stifel Nicolaus cut their price target on ArcBest from $102.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Morgan Stanley lowered their price objective on ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of "Hold" and a consensus price target of $88.75.

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.