American Century Companies Inc. Has $48.69 Million Stock Position in ArcBest Corporation $ARCB

Key Points

• American Century Companies Inc. increased its stake in ArcBest Corporation by 11.5%, owning 689,895 shares valued at approximately $48.69 million by the end of the first quarter.
• ArcBest's stock experienced a 1.9% increase recently, with a current market capitalization of $1.66 billion and a P/E ratio of 10.89.
• The company declared a quarterly dividend of $0.12 per share, with a record date of August 8th, resulting in an annualized dividend yield of 0.7%.

American Century Companies Inc. grew its position in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 689,895 shares of the transportation company's stock after acquiring an additional 70,976 shares during the quarter. American Century Companies Inc. owned 3.01% of ArcBest worth $48,693,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Westwood Holdings Group Inc. boosted its position in ArcBest by 36.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company's stock worth $61,353,000 after acquiring an additional 233,409 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ArcBest by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 436,921 shares of the transportation company's stock valued at $30,838,000 after buying an additional 10,766 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of ArcBest by 1.5% in the 4th quarter. Northern Trust Corp now owns 400,005 shares of the transportation company's stock valued at $37,328,000 after buying an additional 5,739 shares during the last quarter. Nuveen LLC acquired a new stake in shares of ArcBest in the 1st quarter valued at approximately $18,460,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of ArcBest by 10.9% in the 1st quarter. Victory Capital Management Inc. now owns 257,933 shares of the transportation company's stock valued at $18,205,000 after buying an additional 25,306 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Stock Up 1.9%

ARCB opened at $73.20 on Wednesday. ArcBest Corporation has a 1-year low of $55.19 and a 1-year high of $123.25. The stock's fifty day simple moving average is $76.12 and its 200 day simple moving average is $73.01. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.66 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.83 and a beta of 1.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.12). ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company posted $1.98 EPS. The firm's revenue was down 5.1% on a year-over-year basis. As a group, research analysts expect that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 8th. This represents a $0.48 annualized dividend and a yield of 0.7%. ArcBest's dividend payout ratio (DPR) is presently 7.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ARCB shares. Bank of America raised ArcBest from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $63.00 to $74.00 in a report on Tuesday, June 10th. Wells Fargo & Company cut their price objective on ArcBest from $90.00 to $80.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Jefferies Financial Group reissued a "buy" rating and issued a $85.00 price objective (up previously from $75.00) on shares of ArcBest in a report on Tuesday, June 10th. Zacks Research raised ArcBest to a "strong sell" rating in a report on Monday, August 11th. Finally, UBS Group cut their price objective on ArcBest from $84.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $90.00.

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.

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