Segall Bryant & Hamill LLC Has $13.71 Million Stock Position in ArcBest Corporation $ARCB

Key Points

• Segall Bryant & Hamill reduced its ArcBest stake by 4.8% in the first quarter, but still held 139,415 shares valued at approximately $13.71 million. Institutional investors collectively own 99.27% of the company.
• ArcBest reported quarterly earnings of $2.38 per share, beating estimates of $2.26, while revenue rose 15.9% year over year to $1.18 billion. The stock opened at $144.35, up 1.6%.
• The company declared a quarterly dividend of $0.12 per share, equivalent to an annualized $0.48 and a 0.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $154.08.

Segall Bryant & Hamill LLC lowered its stake in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 139,415 shares of the transportation company's stock after selling 7,087 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.63% of ArcBest worth $13,713,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. increased its position in shares of ArcBest by 126.6% during the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company's stock worth $75,000 after acquiring an additional 567 shares in the last quarter. Hantz Financial Services Inc. lifted its position in ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company's stock valued at $83,000 after acquiring an additional 934 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in ArcBest in the 2nd quarter worth $85,000. Assetmark Inc. boosted 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 purchasing an additional 1,188 shares during the period. Finally, KBC Group NV increased 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 worth $96,000 after purchasing an additional 532 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Stock Up 1.6%

ArcBest stock opened at $144.35 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.10. ArcBest Corporation has a 1-year low of $59.43 and a 1-year high of $176.69. The company has a fifty day simple moving average of $148.91 and a 200 day simple moving average of $119.59. The company has a market cap of $3.21 billion, a P/E ratio of 209.20, a price-to-earnings-growth ratio of 0.52 and a beta of 1.57.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued 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. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the firm posted $1.36 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts anticipate that ArcBest Corporation will post 6.73 earnings per share for the current fiscal year.

ArcBest Announces Dividend

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

Analyst Upgrades and Downgrades

ARCB has been the topic of several recent research reports. TD Cowen dropped their price target on ArcBest from $175.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday. Bank of America upped their price objective on ArcBest from $138.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, June 5th. Stephens upgraded ArcBest to a "strong-buy" rating in a report on Wednesday, July 8th. Stifel Nicolaus increased their price objective on ArcBest from $134.00 to $176.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Finally, Truist Financial lifted their target price on ArcBest from $145.00 to $165.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $154.08.

About ArcBest

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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