GSA Capital Partners LLP Has $1.87 Million Stock Holdings in ArcBest Corporation (NASDAQ:ARCB)

Key Points

• GSA Capital Partners LLP increased its stake in ArcBest Corporation by 146.8%, now holding 26,443 shares worth approximately $1.87 million.
• Major financial firms, including Wells Fargo and Bank of America, have revised their target prices for ArcBest, with the average price target currently at $94.00.
• ArcBest announced a quarterly dividend of $0.12, representing a yield of 0.56% and a payout ratio of 6.35%.

GSA Capital Partners LLP grew its position in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 146.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,443 shares of the transportation company's stock after purchasing an additional 15,728 shares during the period. GSA Capital Partners LLP owned approximately 0.11% of ArcBest worth $1,866,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ARCB shares. Morgan Stanley decreased their price objective on shares of ArcBest from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday. Wells Fargo & Company decreased their price objective on shares of ArcBest from $90.00 to $80.00 and set an "equal weight" rating for the company in a research report on Thursday. The Goldman Sachs Group raised shares of ArcBest from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $84.00 to $101.00 in a research report on Monday, June 2nd. Wall Street Zen raised shares of ArcBest from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Truist Financial decreased their price objective on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $90.00.

ArcBest Stock Performance

ARCB stock traded down $3.05 during trading hours on Friday, hitting $70.08. 292,072 shares of the stock were exchanged, compared to its average volume of 382,874. The company has a current ratio of 0.96, a quick ratio of 1.00 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.61 billion, a P/E ratio of 10.48, a P/E/G ratio of 0.76 and a beta of 1.71. The company has a 50-day simple moving average of $73.73 and a two-hundred day simple moving average of $75.73. ArcBest Corporation has a 12 month low of $55.19 and a 12 month high of $123.25.

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

ArcBest Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.48 annualized dividend and a yield of 0.7%. ArcBest's payout ratio is currently 6.35%.

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.