SG Americas Securities LLC Buys Shares of 5,440 ArcBest Corporation (NASDAQ:ARCB)

SG Americas Securities LLC purchased a new stake in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,440 shares of the transportation company's stock, valued at approximately $384,000.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of ArcBest by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 2,771,123 shares of the transportation company's stock valued at $258,601,000 after purchasing an additional 20,665 shares in the last quarter. Alliancebernstein L.P. lifted its stake in ArcBest by 9.4% in the fourth quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company's stock worth $240,011,000 after purchasing an additional 220,325 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in ArcBest by 2.6% in the fourth quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company's stock worth $59,338,000 after purchasing an additional 16,239 shares during the last quarter. American Century Companies Inc. boosted its position in ArcBest by 16.3% during the fourth quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company's stock valued at $57,758,000 after buying an additional 86,867 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of ArcBest by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 426,155 shares of the transportation company's stock valued at $39,769,000 after buying an additional 11,894 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Down 0.1%

Shares of NASDAQ:ARCB traded down $0.10 during trading on Wednesday, hitting $74.08. The stock had a trading volume of 436,505 shares, compared to its average volume of 312,045. The company has a market capitalization of $1.70 billion, a PE ratio of 9.80, a PEG ratio of 0.75 and a beta of 1.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm's fifty day moving average is $64.29 and its 200 day moving average is $78.87. ArcBest Corporation has a 12 month low of $55.19 and a 12 month high of $129.83.

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

ArcBest Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Friday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. ArcBest's payout ratio is 6.35%.

Wall Street Analyst Weigh In

ARCB has been the subject of a number of recent research reports. Stephens reissued an "overweight" rating and issued a $116.00 target price on shares of ArcBest in a research note on Tuesday, March 11th. Stifel Nicolaus decreased their target price on shares of ArcBest from $102.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group raised shares of ArcBest from a "neutral" rating to a "buy" rating and increased their price target for the company from $84.00 to $101.00 in a research report on Monday, June 2nd. TD Cowen decreased their price objective 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. Finally, Truist Financial lowered their price objective on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $89.42.

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.