Deutsche Bank AG Sells 19,810 Shares of ArcBest Corporation $ARCB

Key Points

• Deutsche Bank AG has reduced its stake in ArcBest Corporation by 46.1%, owning approximately $1.64 million worth of shares after selling 19,810 during the first quarter.
• ArcBest's stock increased by 7.0%, with a current market capitalization of approximately $1.75 billion as it reports earnings significantly below analysts' expectations.
• The company recently announced a quarterly dividend of $0.12 per share, reflecting an annualized dividend of $0.48, with a yield of 0.6%.

Deutsche Bank AG lowered its position in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 46.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,182 shares of the transportation company's stock after selling 19,810 shares during the period. Deutsche Bank AG owned 0.10% of ArcBest worth $1,636,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC raised its stake in shares of ArcBest by 477.6% in the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock valued at $27,000 after acquiring an additional 320 shares during the last quarter. CWM LLC lifted its holdings in ArcBest by 338.8% during the 1st quarter. CWM LLC now owns 452 shares of the transportation company's stock worth $32,000 after buying an additional 349 shares in the last quarter. Curat Global LLC acquired a new position in ArcBest during the 1st quarter worth $82,000. GAMMA Investing LLC boosted its position in ArcBest by 185.3% in the 1st quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock valued at $101,000 after buying an additional 932 shares during the last quarter. Finally, Lido Advisors LLC bought a new position in ArcBest in the 4th quarter valued at $211,000. Institutional investors own 99.27% of the company's stock.

ArcBest Trading Down 0.5%

Shares of ArcBest stock traded down $0.34 on Thursday, hitting $73.16. 266,108 shares of the company's stock traded hands, compared to its average volume of 317,666. The firm's 50-day moving average price is $76.81 and its two-hundred day moving average price is $72.20. The stock has a market capitalization of $1.66 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.85 and a beta of 1.69. ArcBest Corporation has a one year low of $55.19 and a one year high of $123.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.12). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The business's revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 EPS. On average, research analysts expect that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. ArcBest's payout ratio is presently 7.14%.

Wall Street Analysts Forecast Growth

ARCB has been the subject of several research reports. Wells Fargo & Company lowered their target price on ArcBest from $90.00 to $80.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Zacks Research raised ArcBest to a "strong sell" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. lifted their target price on ArcBest from $75.00 to $89.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. TD Cowen lowered their target price on ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus lowered their target price on ArcBest from $93.00 to $81.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $90.00.

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.