Two Sigma Advisers LP Increases Position in ArcBest Co. (NASDAQ:ARCB)

Two Sigma Advisers LP boosted its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 147.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.07% of ArcBest worth $1,568,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Arizona State Retirement System increased its stake in shares of ArcBest by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock valued at $640,000 after buying an additional 108 shares during the period. Summit Investment Advisors Inc. increased its holdings in ArcBest by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock worth $230,000 after purchasing an additional 157 shares in the last quarter. Stephens Inc. AR lifted its stake in ArcBest by 2.1% in the fourth quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock valued at $758,000 after buying an additional 170 shares during the period. Blue Trust Inc. boosted its holdings in shares of ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after buying an additional 177 shares in the last quarter. Finally, KBC Group NV grew its position in shares of ArcBest by 34.9% during the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock worth $107,000 after buying an additional 297 shares during the period. Institutional investors own 99.27% of the company's stock.

Insider Activity

In related news, CFO John Matthew Beasley purchased 700 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the purchase, the chief financial officer now directly owns 8,142 shares in the company, valued at $609,754.38. This trade represents a 9.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.28% of the company's stock.

ArcBest Stock Performance

Shares of ArcBest stock traded down $0.68 during trading on Wednesday, hitting $63.65. 66,279 shares of the company's stock traded hands, compared to its average volume of 308,056. ArcBest Co. has a 1 year low of $55.19 and a 1 year high of $129.83. The business has a 50-day simple moving average of $63.50 and a 200-day simple moving average of $83.23. The stock has a market capitalization of $1.46 billion, a P/E ratio of 8.68, a PEG ratio of 1.70 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The firm had revenue of $967.08 million for the quarter, compared to the consensus estimate of $990.03 million. During the same period in the previous year, the company earned $1.34 earnings per share. ArcBest's quarterly revenue was down 6.7% compared to the same quarter last year. As a group, analysts forecast that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

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

Analyst Upgrades and Downgrades

ARCB has been the topic of a number of research reports. UBS Group dropped their target price on shares of ArcBest from $100.00 to $64.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their price target on shares of ArcBest from $80.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Wall Street Zen raised shares of ArcBest from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. The Goldman Sachs Group raised ArcBest from a "neutral" rating to a "buy" rating and boosted their target price for the company from $84.00 to $101.00 in a research report on Monday. Finally, Jefferies Financial Group cut their price target on ArcBest from $120.00 to $95.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, ArcBest has a consensus rating of "Hold" and a consensus target price of $89.67.

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.