Deutsche Bank AG Acquires 7,144 Shares of ArcBest Co. (NASDAQ:ARCB)

Deutsche Bank AG lifted its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 19.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 42,992 shares of the transportation company's stock after acquiring an additional 7,144 shares during the period. Deutsche Bank AG owned approximately 0.18% of ArcBest worth $4,012,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARCB. Barclays PLC lifted its holdings in ArcBest by 342.5% during the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock valued at $4,678,000 after purchasing an additional 33,386 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in ArcBest by 6.0% during the 4th quarter. Victory Capital Management Inc. now owns 232,627 shares of the transportation company's stock valued at $21,709,000 after purchasing an additional 13,152 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in ArcBest by 7.4% during the 4th quarter. Sanctuary Advisors LLC now owns 4,429 shares of the transportation company's stock valued at $419,000 after purchasing an additional 306 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in ArcBest by 41.5% during the 4th quarter. Teacher Retirement System of Texas now owns 3,190 shares of the transportation company's stock valued at $298,000 after purchasing an additional 935 shares during the last quarter. Finally, Norges Bank bought a new position in ArcBest during the 4th quarter valued at about $5,826,000. 99.27% of the stock is owned by institutional investors.

ArcBest Stock Down 0.5%

Shares of NASDAQ:ARCB opened at $66.57 on Tuesday. ArcBest Co. has a one year low of $55.19 and a one year high of $129.83. The company has a 50 day moving average of $65.69 and a 200-day moving average of $86.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 1.70 and a beta of 1.70.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $967.08 million for the quarter, compared to analyst estimates of $990.03 million. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. The firm's quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.34 EPS. On average, sell-side analysts forecast that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Friday, May 9th. ArcBest's dividend payout ratio is currently 6.35%.

Insider Activity at ArcBest

In related news, CFO John Matthew Beasley purchased 700 shares of the business's stock in a transaction on Thursday, March 13th. The shares were 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 in the company, valued at $609,754.38. This represents a 9.41% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.28% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ARCB. UBS Group cut their price target on shares of ArcBest from $100.00 to $64.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company cut their price target on shares of ArcBest from $80.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group cut their price target on shares of ArcBest from $97.00 to $84.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. StockNews.com upgraded shares of ArcBest from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Jefferies Financial Group lowered their price objective on shares of ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $88.25.

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.

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