Sei Investments Co. Boosts Position in ArcBest Corporation $ARCB

Key Points

• Sei Investments more than doubled its ArcBest position in the first quarter, acquiring 27,205 additional shares for a total of 53,687 shares valued at approximately $5.3 million. Institutional investors and hedge funds collectively own 99.27% of the company.
• ArcBest reported quarterly EPS of $2.38, beating estimates of $2.26, while revenue rose 15.9% year over year to $1.18 billion. The company’s stock recently traded at $144.31, below its 52-week high of $176.69.
• The company declared a quarterly dividend of $0.12 per share, equivalent to an annualized yield of about 0.3%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $154.23.

Sei Investments Co. raised its holdings in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 102.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,687 shares of the transportation company's stock after purchasing an additional 27,205 shares during the period. Sei Investments Co. owned 0.24% of ArcBest worth $5,281,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ARCB. Federation des caisses Desjardins du Quebec raised its position in shares of ArcBest by 0.4% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company's stock worth $1,706,000 after purchasing an additional 100 shares during the last quarter. Seelaus Asset Management LLC grew its holdings in ArcBest by 3.5% during the 4th quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company's stock valued at $275,000 after buying an additional 125 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in ArcBest by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company's stock valued at $175,000 after buying an additional 134 shares during the last quarter. ProShare Advisors LLC increased its position in ArcBest by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company's stock worth $329,000 after buying an additional 135 shares in the last quarter. Finally, Stephens Inc. AR increased its position in ArcBest by 2.2% during the fourth quarter. Stephens Inc. AR now owns 6,909 shares of the transportation company's stock worth $535,000 after buying an additional 150 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Stock Performance

NASDAQ ARCB opened at $144.31 on Wednesday. The business's 50-day moving average price is $149.47 and its 200 day moving average price is $120.55. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $176.69. The company has a market capitalization of $3.23 billion, a PE ratio of 209.14, a price-to-earnings-growth ratio of 0.45 and a beta of 1.57. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.26 by $0.12. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The firm's revenue was up 15.9% on a year-over-year basis. On average, research analysts predict that ArcBest Corporation will post 6.9 earnings per share for the current 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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 7th. ArcBest's payout ratio is presently 69.57%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ARCB. Wall Street Zen raised ArcBest from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. increased their price objective on ArcBest from $117.00 to $147.00 and gave the company a "neutral" rating in a research note on Monday, June 8th. Weiss Ratings cut ArcBest from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, May 28th. TD Cowen cut their target price on shares of ArcBest from $175.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, July 30th. Finally, UBS Group upped their target price on shares of ArcBest from $145.00 to $154.00 and gave the company a "neutral" rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, ArcBest presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.23.

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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