Quantbot Technologies LP Raises Holdings in ArcBest Corporation $ARCB

Key Points

• Quantbot Technologies LP increased its ownership in ArcBest Corporation by 33.7% during the first quarter, now holding approximately 22,176 shares valued at $1,565,000.
• Wall Street analysts show mixed opinions on ArcBest, with six giving it a Buy rating and a consensus price target of $90.00 despite a recent downgrade from Zacks Research.
• ArcBest announced a quarterly dividend of $0.12, equating to an annualized yield of 0.6%, and it has a low dividend payout ratio of 7.14%.

Quantbot Technologies LP boosted its holdings in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 33.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,176 shares of the transportation company's stock after buying an additional 5,586 shares during the quarter. Quantbot Technologies LP owned approximately 0.10% of ArcBest worth $1,565,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ARCB. Crossmark Global Holdings Inc. increased its holdings in shares of 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 acquiring an additional 285 shares in the last quarter. Signaturefd LLC grew its position in ArcBest by 477.6% during the 1st quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after purchasing an additional 320 shares during the last quarter. CWM LLC grew its position 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 purchasing an additional 349 shares during the last quarter. US Bancorp DE raised its holdings in shares of ArcBest by 4.9% in the first quarter. US Bancorp DE now owns 7,555 shares of the transportation company's stock worth $533,000 after buying an additional 355 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of ArcBest by 5.1% in the first quarter. Stephens Inc. AR now owns 8,540 shares of the transportation company's stock worth $603,000 after buying an additional 412 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARCB has been the topic of several research reports. The Goldman Sachs Group raised ArcBest from a "neutral" rating to a "buy" rating and upped their target price for the company from $84.00 to $101.00 in a research report on Monday, June 2nd. Bank of America upgraded ArcBest from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $63.00 to $74.00 in a research note on Tuesday, June 10th. Stifel Nicolaus reduced their price target on shares of ArcBest from $93.00 to $81.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of ArcBest from $75.00 to $89.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Zacks Research upgraded shares of ArcBest to a "strong sell" rating in a research note on Monday, August 11th. 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 company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $90.00.

ArcBest Stock Up 7.0%

Shares of ARCB opened at $77.09 on Friday. ArcBest Corporation has a 52 week low of $55.19 and a 52 week high of $123.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 0.83 and a beta of 1.69. The stock's 50-day moving average price is $76.36 and its 200-day moving average price is $72.73.

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). ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the company earned $1.98 EPS. The firm's quarterly revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts predict that ArcBest Corporation will post 7 EPS for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a $0.12 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. ArcBest's dividend payout ratio is 7.14%.

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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