Seelaus Asset Management LLC Takes Position in ArcBest Corporation (NASDAQ:ARCB)

Key Points

• Seelaus Asset Management LLC acquired 3,590 shares of ArcBest Corporation, valued at approximately $253,000, marking a new investment in the company.
• Multiple institutional investors have significantly increased their holdings in ArcBest, with Signaturefd LLC raising its stake by 477.6% in the first quarter alone.
• ArcBest's quarterly earnings report showed a decline in revenue by 5.1% year-over-year, with an EPS of $1.36, missing analysts' estimates.

Seelaus Asset Management LLC bought a new stake in ArcBest Corporation (NASDAQ:ARCB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,590 shares of the transportation company's stock, valued at approximately $253,000.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC raised its stake in shares of ArcBest by 477.6% in the first 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 last quarter. CWM LLC raised its stake in shares of ArcBest by 338.8% in the first quarter. CWM LLC now owns 452 shares of the transportation company's stock valued at $32,000 after acquiring an additional 349 shares during the last quarter. Curat Global LLC bought a new position in shares of ArcBest in the first quarter valued at approximately $82,000. GAMMA Investing LLC raised its stake in shares of ArcBest by 185.3% in the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock valued at $101,000 after acquiring an additional 932 shares during the last quarter. Finally, Lido Advisors LLC bought a new position in shares of ArcBest in the fourth quarter valued at approximately $211,000. Institutional investors own 99.27% of the company's stock.

Wall Street Analysts Forecast Growth

ARCB has been the subject of a number of research reports. TD Cowen lowered their price target on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. UBS Group lowered their price target on shares of ArcBest from $84.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday. Citigroup raised their price target on shares of ArcBest from $67.00 to $89.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Bank of America raised shares of ArcBest from an "underperform" rating to a "neutral" rating and raised their price target for the company from $63.00 to $74.00 in a report on Tuesday, June 10th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $85.00 price target (up previously from $75.00) on shares of ArcBest in a report on Tuesday, June 10th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $90.00.

ArcBest Price Performance

ARCB opened at $70.12 on Monday. The company has a fifty day moving average price of $74.14 and a two-hundred day moving average price of $74.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 0.96. ArcBest Corporation has a 52 week low of $55.19 and a 52 week high of $123.25. The firm has a market capitalization of $1.61 billion, a PE ratio of 10.43, a P/E/G ratio of 0.80 and a beta of 1.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last released 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 business 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%. ArcBest's revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.98 EPS. As a group, analysts anticipate that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. ArcBest's payout ratio is 7.14%.

About ArcBest

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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