Charles Schwab Investment Management Inc. Raises Stock Holdings in ArcBest Corporation $ARCB

Key Points

• Charles Schwab Investment Management Inc. increased its stake in ArcBest Corporation by 2.5%, holding approximately 1.89% of the company valued at $30.8 million as of the end of the last quarter.
• Equities research analysts have mixed ratings on ArcBest, with six analysts rating it a Buy, seven a Hold, and one a Sell, and a consensus price target of $90.00.
• ArcBest recently reported quarterly earnings of $1.36 per share, falling short of estimates, and declared a dividend of $0.12 per share with a yield of 0.7% for shareholders.

Charles Schwab Investment Management Inc. grew its holdings in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 436,921 shares of the transportation company's stock after acquiring an additional 10,766 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.89% of ArcBest worth $30,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Westwood Holdings Group Inc. lifted its holdings in ArcBest by 36.7% in the first quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company's stock valued at $61,353,000 after acquiring an additional 233,409 shares during the period. Federated Hermes Inc. purchased a new stake in shares of ArcBest during the first quarter worth approximately $9,202,000. GAMMA Investing LLC increased its position in shares of ArcBest by 20,035.6% during the first quarter. GAMMA Investing LLC now owns 101,282 shares of the transportation company's stock worth $71,480,000 after purchasing an additional 100,779 shares in the last quarter. Eisler Capital Management Ltd. purchased a new stake in shares of ArcBest during the fourth quarter worth approximately $7,695,000. Finally, Hudson Bay Capital Management LP purchased a new stake in ArcBest in the 4th quarter valued at $5,706,000. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Price Performance

ARCB stock traded up $5.02 during midday trading on Friday, hitting $77.09. 345,357 shares of the stock were exchanged, compared to its average volume of 390,561. The stock's 50-day moving average price is $76.36 and its 200-day moving average price is $72.73. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 0.83 and a beta of 1.69. ArcBest Corporation has a fifty-two week low of $55.19 and a fifty-two week high of $123.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96.

ArcBest (NASDAQ:ARCB - Get Free Report) last released 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). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The business's revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.98 earnings per share. Research analysts predict that ArcBest Corporation 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, August 22nd. Shareholders of record on Friday, August 8th will be paid 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 0.6%. ArcBest's dividend payout ratio is currently 7.14%.

Wall Street Analyst Weigh In

ARCB has been the subject of several analyst reports. UBS Group dropped their target price on ArcBest from $84.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Bank of America raised ArcBest from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $63.00 to $74.00 in a research note on Tuesday, June 10th. Jefferies Financial Group restated a "buy" rating and set a $85.00 price target (up previously from $75.00) on shares of ArcBest in a report on Tuesday, June 10th. Zacks Research upgraded ArcBest to a "strong sell" rating in a report on Monday, August 11th. Finally, Wall Street Zen upgraded ArcBest from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.