ArcBest Corporation (NASDAQ:ARCB) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 12.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,369 shares of the transportation company's stock after selling 7,715 shares during the period. Mutual of America Capital Management LLC owned 0.23% of ArcBest worth $3,837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in ArcBest by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 2,771,123 shares of the transportation company's stock worth $258,601,000 after buying an additional 20,665 shares during the last quarter. Alliancebernstein L.P. boosted its stake in ArcBest by 9.4% during the fourth quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company's stock worth $240,011,000 after buying an additional 220,325 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in ArcBest by 2.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company's stock worth $59,338,000 after buying an additional 16,239 shares during the last quarter. American Century Companies Inc. boosted its stake in ArcBest by 16.3% during the fourth quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company's stock worth $57,758,000 after buying an additional 86,867 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in ArcBest by 1.5% during the fourth quarter. Northern Trust Corp now owns 400,005 shares of the transportation company's stock worth $37,328,000 after buying an additional 5,739 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Trading Up 1.3%

Shares of ARCB stock traded up $1.01 on Thursday, hitting $79.73. The stock had a trading volume of 312,992 shares, compared to its average volume of 321,058. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $1.83 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.84 and a beta of 1.71. ArcBest Corporation has a 1 year low of $55.19 and a 1 year high of $129.83. The company's 50 day moving average price is $71.15 and its 200-day moving average price is $76.53.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). ArcBest had a net margin of 4.37% and a return on equity of 10.05%. The firm had revenue of $967.08 million during the quarter, compared to analysts' expectations of $990.03 million. During the same quarter in the prior year, the firm posted $1.34 EPS. ArcBest's quarterly revenue was down 6.7% compared to the same quarter last year. Analysts anticipate that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.60%. ArcBest's dividend payout ratio (DPR) is 6.35%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group upped their price target on ArcBest from $64.00 to $84.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on ArcBest from $75.00 to $89.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Wall Street Zen raised ArcBest from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $85.00 price target (up previously from $75.00) on shares of ArcBest in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company upped their price target on ArcBest from $60.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $93.17.

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.