ArcBest Co. (NASDAQ:ARCB) Holdings Boosted by Two Sigma Investments LP

Two Sigma Investments LP lifted its position in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,399 shares of the transportation company's stock after buying an additional 6,900 shares during the period. Two Sigma Investments LP owned approximately 0.28% of ArcBest worth $6,010,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of ArcBest by 1.6% during the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock valued at $640,000 after purchasing an additional 108 shares during the period. Summit Investment Advisors Inc. lifted its holdings in ArcBest by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock worth $230,000 after buying an additional 157 shares in the last quarter. Stephens Inc. AR lifted its holdings in ArcBest by 2.1% in the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock worth $758,000 after buying an additional 170 shares in the last quarter. Blue Trust Inc. boosted its position in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after buying an additional 177 shares during the last quarter. Finally, KBC Group NV increased its holdings in 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 purchasing an additional 297 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Performance

ArcBest stock traded down $1.80 during mid-day trading on Friday, hitting $62.73. 109,428 shares of the company's stock traded hands, compared to its average volume of 307,854. 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 one year low of $55.19 and a one year high of $129.83. The firm has a 50 day moving average price of $64.12 and a 200 day moving average price of $84.45. The company has a market cap of $1.44 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its earnings results on Tuesday, April 29th. The transportation company reported $0.51 EPS 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 company had revenue of $967.08 million for the quarter, compared to analyst estimates of $990.03 million. During the same period in the previous year, the business posted $1.34 EPS. The firm's quarterly revenue was down 6.7% on a year-over-year basis. On average, equities analysts forecast that ArcBest Co. will post 7 EPS for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.77%. ArcBest's dividend payout ratio (DPR) is 6.35%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley decreased their price objective on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Bank of America upped their target price on shares of ArcBest from $58.00 to $67.00 and gave the company an "underperform" rating in a research note on Friday, May 16th. Citigroup decreased their price target on ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their price objective on ArcBest from $80.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $88.25.

Insider Buying and Selling

In related news, CFO John Matthew Beasley purchased 700 shares of the company's stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $74.89 per share, with a total value of $52,423.00. Following the completion of the acquisition, the chief financial officer now owns 8,142 shares of the company's stock, valued at approximately $609,754.38. This represents a 9.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.28% of the stock is owned by corporate insiders.

ArcBest Company 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.