Two Sigma Advisers LP Buys 10,000 Shares of ArcBest Co. (NASDAQ:ARCB)

Two Sigma Advisers LP raised its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 147.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,800 shares of the transportation company's stock after acquiring an additional 10,000 shares during the quarter. Two Sigma Advisers LP owned approximately 0.07% of ArcBest worth $1,568,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Barclays PLC boosted its position in shares of ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock worth $4,678,000 after acquiring an additional 33,386 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of ArcBest by 6.0% during the 4th quarter. Victory Capital Management Inc. now owns 232,627 shares of the transportation company's stock valued at $21,709,000 after purchasing an additional 13,152 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of ArcBest by 7.4% during the 4th quarter. Sanctuary Advisors LLC now owns 4,429 shares of the transportation company's stock valued at $419,000 after purchasing an additional 306 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of ArcBest by 41.5% during the fourth quarter. Teacher Retirement System of Texas now owns 3,190 shares of the transportation company's stock valued at $298,000 after purchasing an additional 935 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of ArcBest in the fourth quarter worth about $5,826,000. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ArcBest

In other news, CFO John Matthew Beasley purchased 700 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. This represents a 9.41% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.28% of the company's stock.

ArcBest Trading Down 0.9%

ARCB traded down $0.59 during trading hours on Wednesday, reaching $63.73. 261,906 shares of the company's stock traded hands, compared to its average volume of 308,564. The firm has a 50-day moving average price of $63.36 and a 200 day moving average price of $83.10. The firm has a market capitalization of $1.46 billion, a PE ratio of 8.69, a PEG ratio of 1.70 and a beta of 1.70. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. ArcBest Co. has a 52-week low of $55.19 and a 52-week high of $129.83.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results 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). The company had revenue of $967.08 million for the quarter, compared to analysts' expectations of $990.03 million. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The firm's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 earnings per share. As a group, sell-side analysts predict that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.75%. ArcBest's dividend payout ratio is currently 6.35%.

Analyst Ratings Changes

A number of brokerages recently commented on ARCB. Stephens reissued an "overweight" rating and set a $116.00 price target on shares of ArcBest in a research note on Tuesday, March 11th. Stifel Nicolaus lowered their target price on ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen raised shares of ArcBest from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company lowered their price target on shares of ArcBest from $80.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Finally, Truist Financial reduced their price objective on ArcBest from $93.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $89.67.

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.