ArcBest Corporation $ARCB Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management dramatically increased its ArcBest stake in the fourth quarter, buying 121,652 additional shares and lifting its holdings by 19,008.1% to 122,292 shares worth about $9.1 million.
• ArcBest reported better-than-expected quarterly earnings of $0.32 per share versus the $0.27 estimate, while revenue came in essentially in line at $998.79 million and rose 3.3% year over year.
• Several analysts have turned more positive on the stock, with rating upgrades and higher price targets pushing the consensus view to “Moderate Buy” and an average target price of $123.42.

Northwestern Mutual Wealth Management Co. raised its position in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 19,008.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,292 shares of the transportation company's stock after buying an additional 121,652 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.54% of ArcBest worth $9,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARCB. AQR Capital Management LLC raised its stake in ArcBest by 300.3% during the first quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company's stock valued at $1,898,000 after buying an additional 20,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ArcBest by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company's stock valued at $989,000 after purchasing an additional 619 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of ArcBest by 215.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company's stock valued at $10,808,000 after purchasing an additional 104,643 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of ArcBest by 278.2% during the first quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company's stock valued at $3,218,000 after purchasing an additional 33,537 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of ArcBest by 3.4% during the first quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company's stock valued at $1,421,000 after purchasing an additional 655 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Stock Down 0.5%

ARCB opened at $124.41 on Friday. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $135.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $2.77 billion, a P/E ratio of 51.20, a P/E/G ratio of 0.68 and a beta of 1.55. The stock's 50 day moving average price is $108.35 and its 200 day moving average price is $92.41.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its earnings results on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The firm had revenue of $998.79 million for the quarter, compared to analysts' expectations of $999.07 million. During the same period last year, the firm earned $0.51 EPS. The firm's revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that ArcBest Corporation will post 5.29 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, May 8th. ArcBest's dividend payout ratio (DPR) is currently 19.75%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARCB. Morgan Stanley reaffirmed an "overweight" rating and set a $150.00 target price on shares of ArcBest in a report on Wednesday, April 29th. Zacks Research raised ArcBest from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on ArcBest from $85.00 to $117.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Truist Financial upped their target price on ArcBest from $95.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, TD Cowen upped their target price on ArcBest from $97.00 to $137.00 and gave the company a "hold" rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $123.42.

ArcBest Profile

ArcBest Corporation NASDAQ: ARCB is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company's asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.

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