Mutual Advisors LLC Makes New $954,000 Investment in ArcBest Corporation $ARCB

Key Points

• Mutual Advisors LLC has made a new investment of approximately $954,000 in ArcBest Corporation, acquiring 12,382 shares during the second quarter.
• ArcBest's latest earnings report showed a miss in EPS at $1.36, falling short of analysts' expectations by $0.12, alongside a revenue decrease of 5.1% year-over-year.
• Following the dividend announcement of $0.12 per share, ArcBest maintains a dividend yield of 0.7%, with a low payout ratio of 7.14%.

Mutual Advisors LLC purchased a new position in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,382 shares of the transportation company's stock, valued at approximately $954,000. Mutual Advisors LLC owned 0.05% of ArcBest as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARCB. Signaturefd LLC grew its position in shares of ArcBest by 477.6% during the 1st 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 period. Farther Finance Advisors LLC boosted its holdings in ArcBest by 433.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company's stock worth $30,000 after buying an additional 312 shares during the last quarter. CWM LLC lifted its stake in ArcBest by 338.8% in the 1st quarter. CWM LLC now owns 452 shares of the transportation company's stock worth $32,000 after purchasing an additional 349 shares in the last quarter. GAMMA Investing LLC lifted its stake in ArcBest by 185.3% in the 1st quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock worth $101,000 after purchasing an additional 932 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in ArcBest in the 1st quarter worth approximately $143,000. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Stock Performance

NASDAQ:ARCB opened at $73.42 on Friday. The company has a fifty day simple moving average of $72.11 and a two-hundred day simple moving average of $70.31. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. ArcBest Corporation has a 52 week low of $55.19 and a 52 week high of $123.25.

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 analysts' consensus estimates of $1.48 by ($0.12). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The business's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 EPS. As a group, equities analysts anticipate that ArcBest Corporation will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

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

Wall Street Analyst Weigh In

ARCB has been the subject of several research reports. Cowen reiterated a "hold" rating on shares of ArcBest in a report on Wednesday, October 1st. Weiss Ratings reiterated a "hold (c-)" rating on shares of ArcBest in a report on Wednesday, October 8th. Morgan Stanley dropped their target price on shares of ArcBest from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. UBS Group lifted their target price on shares of ArcBest from $73.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, September 30th. Finally, Zacks Research upgraded shares of ArcBest to a "strong sell" rating in a report on Monday, August 11th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $90.00.

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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