ArcBest Corporation $ARCB Shares Acquired by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC significantly increased its position in ArcBest Corporation by purchasing an additional 193,892 shares, representing a growth of 1,812.9% during the 1st quarter.
• ArcBest recently reported $1.36 earnings per share, missing the consensus estimate by $0.12, with revenue of $1.02 billion in the last quarter.
• The company declared a quarterly dividend of $0.12 per share, yielding approximately 0.7%, reflecting a dividend payout ratio of 7.14%.

Ancora Advisors LLC lifted its position in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 1,812.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 204,587 shares of the transportation company's stock after acquiring an additional 193,892 shares during the quarter. Ancora Advisors LLC owned approximately 0.89% of ArcBest worth $14,440,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Federation des caisses Desjardins du Quebec boosted its holdings in shares of ArcBest by 17.9% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 20,856 shares of the transportation company's stock valued at $1,472,000 after purchasing an additional 3,170 shares in the last quarter. Capital Fund Management S.A. increased its holdings in shares of ArcBest by 31.5% in the first quarter. Capital Fund Management S.A. now owns 21,901 shares of the transportation company's stock worth $1,546,000 after purchasing an additional 5,252 shares during the period. Quantbot Technologies LP increased its stake in ArcBest by 33.7% in the first quarter. Quantbot Technologies LP now owns 22,176 shares of the transportation company's stock valued at $1,565,000 after acquiring an additional 5,586 shares during the last quarter. Northern Trust Corp boosted its position in ArcBest by 0.4% during the first quarter. Northern Trust Corp now owns 401,549 shares of the transportation company's stock valued at $28,341,000 after buying an additional 1,544 shares during the period. Finally, Partners Group Holding AG boosted its holdings in shares of ArcBest by 52.0% during the first quarter. Partners Group Holding AG now owns 119,679 shares of the transportation company's stock worth $8,447,000 after purchasing an additional 40,966 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Stock Performance

Shares of NASDAQ:ARCB traded down $0.44 on Monday, reaching $75.26. 75,846 shares of the company's stock were exchanged, compared to its average volume of 366,604. The company has a fifty day moving average of $76.91 and a 200-day moving average of $71.08. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.87 and a beta of 1.69. ArcBest Corporation has a twelve month low of $55.19 and a twelve month high of $123.25. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13.

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

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, August 8th. ArcBest's payout ratio is presently 7.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ARCB shares. Citigroup lifted their target price on shares of ArcBest from $67.00 to $89.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group raised shares of ArcBest from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $84.00 to $101.00 in a report on Monday, June 2nd. JPMorgan Chase & Co. boosted their target price on shares of ArcBest from $75.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Zacks Research upgraded shares of ArcBest to a "strong sell" rating in a report on Monday, August 11th. Finally, UBS Group cut their target price on shares of ArcBest from $84.00 to $73.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $90.00.

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.