Royce & Associates LP Sells 18,323 Shares of ArcBest Corporation $ARCB

Key Points

• Royce & Associates LP cut its ArcBest stake by 15.8%, selling 18,323 shares and ending the quarter with 97,817 shares worth about $6.83 million (roughly 0.43% of the company).
• Other institutions also shifted positions — notably American Century increased its holding to 817,091 shares (~$57.1M) — and institutional investors now own 99.27% of ArcBest.
• ArcBest trades near $105 with a $2.34B market cap and a PE of 40.2; analysts have a consensus "Hold" (avg target $97), the company recently missed quarterly EPS ($0.36 vs. $0.45) and pays a $0.12 quarterly dividend (0.5% yield).

Royce & Associates LP reduced its holdings in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 15.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 97,817 shares of the transportation company's stock after selling 18,323 shares during the quarter. Royce & Associates LP owned 0.43% of ArcBest worth $6,834,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. raised its stake in ArcBest by 9.6% during the third quarter. American Century Companies Inc. now owns 817,091 shares of the transportation company's stock worth $57,090,000 after acquiring an additional 71,420 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of ArcBest by 146.3% during the 3rd quarter. Quantbot Technologies LP now owns 1,786 shares of the transportation company's stock valued at $125,000 after purchasing an additional 1,061 shares during the last quarter. Intech Investment Management LLC increased its position in ArcBest by 11.8% during the 3rd quarter. Intech Investment Management LLC now owns 17,360 shares of the transportation company's stock worth $1,213,000 after purchasing an additional 1,837 shares in the last quarter. AMG National Trust Bank acquired a new position in ArcBest during the 3rd quarter worth approximately $842,000. Finally, GSA Capital Partners LLP lifted its stake in ArcBest by 115.7% in the 3rd quarter. GSA Capital Partners LLP now owns 6,353 shares of the transportation company's stock valued at $444,000 after purchasing an additional 3,408 shares during the last quarter. Institutional investors own 99.27% of the company's stock.

ArcBest Trading Up 0.4%

NASDAQ ARCB opened at $104.96 on Thursday. ArcBest Corporation has a 12 month low of $55.19 and a 12 month high of $112.92. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $2.34 billion, a PE ratio of 40.21, a price-to-earnings-growth ratio of 0.75 and a beta of 1.48. The business's 50-day moving average price is $93.83 and its two-hundred day moving average price is $79.09.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Friday, January 30th. The transportation company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.09). ArcBest had a return on equity of 6.51% and a net margin of 1.50%.The firm's revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $1.33 earnings per share. On average, analysts expect that ArcBest Corporation will post 7 EPS for the current year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. ArcBest's dividend payout ratio is 18.39%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ARCB shares. Citigroup boosted their target price on shares of ArcBest from $104.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. TD Cowen restated a "hold" rating on shares of ArcBest in a research report on Friday, January 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ArcBest in a report on Wednesday, January 21st. Wells Fargo & Company lifted their price target on ArcBest from $74.00 to $85.00 and gave the company an "equal weight" rating in a research note on Sunday, February 1st. Finally, Stifel Nicolaus lowered their price objective on ArcBest from $96.00 to $94.00 and set a "buy" rating for the company in a research note on Monday, February 2nd. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $97.00.

ArcBest 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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