Strs Ohio Purchases New Shares in ArcBest Corporation $ARCB

Key Points

• Strs Ohio acquired 6,700 shares of ArcBest Corporation, valued at approximately $473,000, during the first quarter.
• ArcBest reported earnings of $1.36 per share in its most recent quarter, missing analysts' expectations and experiencing a 5.1% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.12 per share, with an annualized yield of 0.7% and a payout ratio of 7.14%.

Strs Ohio acquired a new stake in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,700 shares of the transportation company's stock, valued at approximately $473,000.

A number of other institutional investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its holdings in ArcBest by 7.1% during the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company's stock valued at $304,000 after purchasing an additional 285 shares during the period. Signaturefd LLC boosted its holdings in shares of ArcBest by 477.6% in the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock valued at $27,000 after buying an additional 320 shares during the period. CWM LLC boosted its holdings in shares of ArcBest by 338.8% in the first quarter. CWM LLC now owns 452 shares of the transportation company's stock valued at $32,000 after buying an additional 349 shares during the period. US Bancorp DE boosted its holdings in shares of ArcBest by 4.9% in the first quarter. US Bancorp DE now owns 7,555 shares of the transportation company's stock valued at $533,000 after buying an additional 355 shares during the period. Finally, Stephens Inc. AR boosted its holdings in shares of ArcBest by 5.1% in the first quarter. Stephens Inc. AR now owns 8,540 shares of the transportation company's stock valued at $603,000 after buying an additional 412 shares during the period. Institutional investors and hedge funds own 99.27% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of ArcBest from $75.00 to $89.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Zacks Research raised shares of ArcBest to a "strong sell" rating in a research report on Monday, August 11th. Citigroup cut their price objective on shares of ArcBest from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 10th. The Goldman Sachs Group raised shares of ArcBest from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $84.00 to $101.00 in a research report on Monday, June 2nd. Finally, UBS Group cut their price objective on shares of ArcBest from $84.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $89.17.

ArcBest Stock Performance

NASDAQ ARCB traded down $1.25 on Monday, hitting $68.57. 310,379 shares of the stock were exchanged, compared to its average volume of 283,716. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. The business's fifty day moving average is $74.57 and its 200 day moving average is $70.49. ArcBest Corporation has a 52 week low of $55.19 and a 52 week high of $123.25. The company has a market capitalization of $1.56 billion, a PE ratio of 10.20, a P/E/G ratio of 1.24 and a beta of 1.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.12). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. ArcBest's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.98 earnings per share. Research analysts anticipate that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. ArcBest's dividend payout ratio is presently 7.14%.

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.