Quantinno Capital Management LP Purchases 10,511 Shares of ArcBest Corporation $ARCB

Key Points

• Quantinno Capital Management more than doubled its ArcBest position in the first quarter, purchasing 10,511 additional shares and bringing its holdings to 20,827 shares valued at approximately $2.05 million. Institutional investors collectively own 99.27% of the company.
• ArcBest reported quarterly adjusted earnings of $2.38 per share, exceeding analyst expectations of $2.26, while revenue rose 15.9% year over year to $1.18 billion. The company declared a quarterly dividend of $0.12 per share, representing a 0.3% yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $154.23 versus the stock’s reported price of $137.43. However, insiders sold nearly 12,000 shares worth about $1.68 million over the past three months.

Quantinno Capital Management LP boosted its position in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 101.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,827 shares of the transportation company's stock after purchasing an additional 10,511 shares during the period. Quantinno Capital Management LP owned approximately 0.09% of ArcBest worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Federated Hermes Inc. lifted its stake in shares of ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company's stock worth $75,000 after acquiring an additional 567 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of ArcBest by 507.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company's stock valued at $83,000 after purchasing an additional 934 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of ArcBest in the second quarter worth about $85,000. Assetmark Inc. increased its stake in ArcBest by 5,940.0% in the 4th quarter. Assetmark Inc. now owns 1,208 shares of the transportation company's stock worth $90,000 after buying an additional 1,188 shares during the period. Finally, KBC Group NV lifted its holdings in ArcBest by 69.4% during the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company's stock valued at $96,000 after buying an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.

ArcBest Stock Down 0.2%

ArcBest stock opened at $137.43 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.07 billion, a P/E ratio of 199.17, a P/E/G ratio of 0.45 and a beta of 1.57. The business has a fifty day moving average of $149.62 and a two-hundred day moving average of $121.91. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $176.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.26 by $0.12. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The business's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. On average, analysts forecast that ArcBest Corporation will post 6.9 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 7th. ArcBest's dividend payout ratio is presently 69.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ARCB shares. Zacks Research lowered shares of ArcBest from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Truist Financial increased their price objective on ArcBest from $145.00 to $165.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Wall Street Zen upgraded ArcBest from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Stifel Nicolaus lifted their target price on ArcBest from $134.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, Bank of America upped their target price on ArcBest from $138.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $154.23.

Insider Activity

In other news, Director Judy R. Mcreynolds sold 2,857 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $138.98, for a total value of $397,065.86. Following the sale, the director directly owned 50,048 shares in the company, valued at approximately $6,955,671.04. This trade represents a 5.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Erin K. Gattis sold 6,163 shares of ArcBest stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total transaction of $862,820.00. Following the completion of the transaction, the insider directly owned 24,286 shares in the company, valued at approximately $3,400,040. The trade was a 20.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 11,963 shares of company stock valued at $1,678,066. Insiders own 0.98% of the company's stock.

ArcBest Company Profile

ArcBest Corporation NASDAQ: ARCB is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company's asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.

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