UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 68,177 Shares of ArcBest Co. (NASDAQ:ARCB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 58.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,495 shares of the transportation company's stock after selling 68,177 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.21% of ArcBest worth $4,526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARCB. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 177 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock valued at $51,000 after purchasing an additional 453 shares during the last quarter. KBC Group NV lifted its stake in shares of ArcBest by 34.9% in the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock valued at $107,000 after purchasing an additional 297 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of ArcBest in the 4th quarter valued at $206,000. Finally, Lido Advisors LLC acquired a new position in shares of ArcBest in the 4th quarter valued at $211,000. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Stock Performance

Shares of NASDAQ:ARCB traded down $0.46 during trading on Thursday, hitting $63.27. 393,623 shares of the company traded hands, compared to its average volume of 308,902. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 1.70 and a beta of 1.70. The business's fifty day moving average is $63.36 and its 200-day moving average is $83.10. ArcBest Co. has a one year low of $55.19 and a one year high of $129.83. 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 (NASDAQ:ARCB - Get Free Report) last posted 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 the consensus estimate of $990.03 million. During the same period last year, the company posted $1.34 earnings per share. The firm's revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, equities analysts predict that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.12 per share. The ex-dividend date was Friday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.76%. ArcBest's dividend payout ratio (DPR) is presently 6.35%.

Insider Activity

In related news, CFO John Matthew Beasley purchased 700 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $74.89 per share, with a total value of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares of the company's stock, valued at $609,754.38. The trade was a 9.41% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.28% of the company's stock.

Wall Street Analyst Weigh In

ARCB has been the topic of several research analyst reports. Jefferies Financial Group cut their price objective on ArcBest from $120.00 to $95.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group upgraded ArcBest from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $84.00 to $101.00 in a report on Monday. TD Cowen cut their price objective on ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Truist Financial cut their price objective on ArcBest from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Stephens restated an "overweight" rating and set a $116.00 price target on shares of ArcBest in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $89.67.

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.