Moloney Securities Asset Management LLC Purchases New Holdings in ArcBest Corporation (NASDAQ:ARCB)

Moloney Securities Asset Management LLC purchased a new stake in ArcBest Corporation (NASDAQ:ARCB - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,523 shares of the transportation company's stock, valued at approximately $249,000.

Several other institutional investors have also made changes to their positions in the stock. Arizona State Retirement System boosted its stake in shares of ArcBest by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock valued at $640,000 after buying an additional 108 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of ArcBest by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock valued at $230,000 after buying an additional 157 shares during the period. Crossmark Global Holdings Inc. raised its position in ArcBest by 7.1% during the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company's stock valued at $304,000 after purchasing an additional 285 shares in the last quarter. Franklin Resources Inc. raised its position in ArcBest by 4.3% during the fourth quarter. Franklin Resources Inc. now owns 7,406 shares of the transportation company's stock valued at $691,000 after purchasing an additional 305 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in ArcBest by 7.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,557 shares of the transportation company's stock valued at $425,000 after purchasing an additional 315 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

ArcBest Stock Down 2.6%

Shares of NASDAQ:ARCB opened at $82.23 on Friday. The company has a fifty day moving average of $69.59 and a 200-day moving average of $76.92. The company has a market capitalization of $1.88 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.90 and a beta of 1.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. ArcBest Corporation has a 52-week low of $55.19 and a 52-week high of $129.83.

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

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.12 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. ArcBest's dividend payout ratio is 6.35%.

Analyst Upgrades and Downgrades

ARCB has been the subject of several research analyst reports. Bank of America upgraded shares of ArcBest from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $63.00 to $74.00 in a research report on Tuesday, June 10th. Wall Street Zen upgraded shares of ArcBest from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. TD Cowen lowered their price objective on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group restated a "buy" rating and set a $85.00 price objective (up from $75.00) on shares of ArcBest in a research report on Tuesday, June 10th. Finally, Citigroup boosted their price objective on shares of ArcBest from $67.00 to $89.00 and gave the company a "neutral" rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, ArcBest presently has a consensus rating of "Hold" and a consensus target price of $93.17.

ArcBest 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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