John G Ullman & Associates Inc. Has $757,000 Position in ArcBest Corporation (NASDAQ:ARCB)

Key Points

• John G Ullman & Associates Inc. has reduced its stake in ArcBest Corporation by 48.1%, selling 9,950 shares and retaining 10,725 shares worth approximately $757,000.
• The transportation company reported earnings of $0.51 per share for the latest quarter, falling short of the analyst consensus estimate of $0.52, along with a revenue of $967.08 million.
• ArcBest announced a quarterly dividend of $0.12 per share, reflecting an annualized yield of 0.56%, set to be paid on August 22nd.

John G Ullman & Associates Inc. decreased its holdings in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 48.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,725 shares of the transportation company's stock after selling 9,950 shares during the quarter. John G Ullman & Associates Inc.'s holdings in ArcBest were worth $757,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ARCB. Signaturefd LLC increased its position in shares of ArcBest by 477.6% during the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after acquiring an additional 320 shares during the last quarter. CWM LLC increased its position in shares of ArcBest by 338.8% during the first quarter. CWM LLC now owns 452 shares of the transportation company's stock worth $32,000 after acquiring an additional 349 shares during the last quarter. Curat Global LLC purchased a new stake in shares of ArcBest during the first quarter worth about $82,000. GAMMA Investing LLC increased its position in shares of ArcBest by 185.3% during the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock worth $101,000 after acquiring an additional 932 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of ArcBest during the fourth quarter worth about $206,000. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Price Performance

ARCB traded up $0.89 during trading on Monday, reaching $87.10. The stock had a trading volume of 103,095 shares, compared to its average volume of 369,888. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 0.91 and a beta of 1.71. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. ArcBest Corporation has a 1-year low of $55.19 and a 1-year high of $129.83. The stock has a 50 day moving average of $72.86 and a two-hundred day moving average of $75.77.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $967.08 million during the quarter, compared to analyst estimates of $990.03 million. ArcBest had a return on equity of 10.05% and a net margin of 4.37%. The business's revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the company earned $1.34 earnings per share. As a group, equities analysts anticipate that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.55%. ArcBest's dividend payout ratio is currently 6.35%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ARCB shares. Truist Financial dropped their target price on ArcBest from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Bank of America raised ArcBest from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $63.00 to $74.00 in a research report on Tuesday, June 10th. TD Cowen dropped their target price on ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group raised ArcBest from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $84.00 to $101.00 in a research report on Monday, June 2nd. Finally, Citigroup boosted their price objective on ArcBest from $67.00 to $89.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, ArcBest has an average rating of "Hold" and an average target price of $94.00.

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.