Nuveen Asset Management LLC Has $20.66 Million Holdings in ArcBest Co. (NASDAQ:ARCB)

Nuveen Asset Management LLC lowered its stake in ArcBest Co. (NASDAQ:ARCB - Free Report) by 34.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 221,343 shares of the transportation company's stock after selling 115,600 shares during the period. Nuveen Asset Management LLC owned approximately 0.95% of ArcBest worth $20,656,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its stake in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after buying an additional 177 shares during the last quarter. R Squared Ltd acquired a new position in ArcBest in the 4th quarter valued at about $40,000. Smartleaf Asset Management LLC grew its stake in ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock valued at $51,000 after buying an additional 453 shares during the last quarter. KBC Group NV grew its stake in ArcBest by 34.9% in the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock valued at $107,000 after buying an additional 297 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in ArcBest in the 4th quarter valued at about $206,000. Institutional investors and hedge funds own 99.27% of the company's stock.

Analyst Ratings Changes

ARCB has been the topic of a number of research reports. Wall Street Zen upgraded shares of ArcBest from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Morgan Stanley decreased their target price on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group decreased their target price on shares of ArcBest from $97.00 to $84.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Truist Financial decreased their target price on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Stephens restated an "overweight" rating and set a $116.00 target price on shares of ArcBest in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $88.25.

Insider Activity at ArcBest

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $74.89 per share, with a total value of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares of the company's stock, 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 SEC, which is available at this link. 1.28% of the stock is owned by insiders.

ArcBest Price Performance

NASDAQ:ARCB traded down $0.69 on Thursday, hitting $63.75. The company had a trading volume of 29,066 shares, compared to its average volume of 307,247. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 1.70 and a beta of 1.70. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $64.32 and a two-hundred day moving average of $84.85. ArcBest Co. has a 52 week low of $55.19 and a 52 week high of $129.83.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $967.08 million during 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%. ArcBest's revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 EPS. On average, research analysts anticipate that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, May 9th. ArcBest's payout ratio is 6.35%.

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.