UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $4.53 Million Stock Position in ArcBest Co. (NASDAQ:ARCB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in ArcBest Co. (NASDAQ:ARCB - Free Report) by 58.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 0.21% of ArcBest worth $4,526,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC lifted its position in shares of ArcBest by 342.5% in the third quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock valued at $4,678,000 after acquiring an additional 33,386 shares in the last quarter. Blue Trust Inc. lifted its position in shares of ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after acquiring an additional 177 shares in the last quarter. KBC Group NV lifted its position in shares of ArcBest by 34.9% in the fourth quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock valued at $107,000 after acquiring an additional 297 shares in the last quarter. Meritage Portfolio Management lifted its position in shares of ArcBest by 12.4% in the fourth quarter. Meritage Portfolio Management now owns 4,138 shares of the transportation company's stock valued at $386,000 after acquiring an additional 458 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in shares of 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 acquiring an additional 170 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ARCB. Stephens reissued an "overweight" rating and issued a $116.00 price target on shares of ArcBest in a report on Tuesday, March 11th. Stifel Nicolaus reduced their price target on ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Truist Financial reduced their price target on ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Citigroup reduced their target price on ArcBest from $83.00 to $66.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America increased their target price on ArcBest from $58.00 to $67.00 and gave the stock an "underperform" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $89.67.

ArcBest Stock Performance

ARCB traded up $0.43 during trading hours on Friday, hitting $63.70. The company's stock had a trading volume of 163,144 shares, compared to its average volume of 308,952. ArcBest Co. has a fifty-two week low of $55.19 and a fifty-two week high of $129.83. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. 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 1.68. The company has a 50-day simple moving average of $63.08 and a 200 day simple moving average of $82.31.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share (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 firm had revenue of $967.08 million for the quarter, compared to analyst estimates of $990.03 million. During the same quarter last year, the business 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, sell-side analysts expect that ArcBest Co. will post 7 EPS for the current year.

ArcBest Announces Dividend

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

Insider Transactions at ArcBest

In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $74.89 per share, with a total value of $52,423.00. Following the completion of the transaction, the chief financial officer now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.28% of the company's stock.

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.