Segall Bryant & Hamill LLC Decreases Position in ArcBest Corporation (NASDAQ:ARCB)

Segall Bryant & Hamill LLC cut its stake in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 36.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 169,386 shares of the transportation company's stock after selling 98,652 shares during the period. Segall Bryant & Hamill LLC owned about 0.73% of ArcBest worth $11,955,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC increased its holdings in shares of ArcBest by 477.6% during the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after buying an additional 320 shares in the last quarter. CWM LLC increased its holdings in 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 purchasing an additional 349 shares during the period. Curat Global LLC acquired a new stake in ArcBest in the first quarter valued at $82,000. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 932 shares during the period. Finally, Cibc World Markets Corp bought a new stake in ArcBest during the fourth quarter valued at $206,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Stock Performance

ARCB traded up $1.01 on Thursday, hitting $79.73. The company's stock had a trading volume of 312,992 shares, compared to its average volume of 321,058. The company's 50 day simple moving average is $71.15 and its 200-day simple moving average is $76.53. The firm has a market cap of $1.83 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 0.84 and a beta of 1.71. ArcBest Corporation has a 12 month low of $55.19 and a 12 month high of $129.83. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). ArcBest had a net margin of 4.37% and a return on equity of 10.05%. The firm had revenue of $967.08 million during the quarter, compared to the consensus estimate of $990.03 million. During the same period in the previous year, the business earned $1.34 earnings per share. The firm's revenue for the quarter was down 6.7% on a year-over-year basis. Analysts forecast that ArcBest Corporation will post 7 EPS for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, May 9th. ArcBest's dividend payout ratio is currently 6.35%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. TD Cowen cut their price target on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group raised shares of ArcBest from a "neutral" rating to a "buy" rating and raised their price target for the company from $84.00 to $101.00 in a research report on Monday, June 2nd. 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 research report on Tuesday, June 10th. UBS Group increased their price objective on shares of ArcBest from $64.00 to $84.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, Stifel Nicolaus decreased their price objective on shares of ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, ArcBest presently has a consensus rating of "Hold" and an average price target of $93.17.

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.