Victory Capital Management Inc. Buys 25,306 Shares of ArcBest Corporation (NASDAQ:ARCB)

Victory Capital Management Inc. lifted its stake in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 10.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 257,933 shares of the transportation company's stock after buying an additional 25,306 shares during the quarter. Victory Capital Management Inc. owned approximately 1.11% of ArcBest worth $18,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swiss National Bank boosted its holdings in shares of ArcBest by 1.5% during the 4th quarter. Swiss National Bank now owns 46,500 shares of the transportation company's stock valued at $4,339,000 after purchasing an additional 700 shares during the last quarter. Cibc World Markets Corp bought a new position in ArcBest during the fourth quarter valued at approximately $206,000. Teacher Retirement System of Texas increased its stake in ArcBest by 41.5% in the 4th quarter. Teacher Retirement System of Texas now owns 3,190 shares of the transportation company's stock worth $298,000 after acquiring an additional 935 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of ArcBest by 38.9% during the 4th quarter. Quantbot Technologies LP now owns 16,590 shares of the transportation company's stock worth $1,548,000 after acquiring an additional 4,648 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of ArcBest by 16.3% during the 4th quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company's stock valued at $57,758,000 after acquiring an additional 86,867 shares during the last quarter. Institutional investors own 99.27% of the company's stock.

ArcBest Trading Up 2.4%

ARCB traded up $2.06 on Friday, reaching $86.21. 350,405 shares of the company traded hands, compared to its average volume of 402,780. The company has a market cap of $1.98 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.92 and a beta of 1.71. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. ArcBest Corporation has a one year low of $55.19 and a one year high of $129.83. The firm has a fifty day simple moving average of $72.86 and a two-hundred day simple moving average of $75.90.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $967.08 million for the quarter, compared to analysts' expectations of $990.03 million. ArcBest had a return on equity of 10.05% and a net margin of 4.37%. During the same quarter in the previous year, the business earned $1.34 earnings per share. The company's revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, equities research analysts expect that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. ArcBest's dividend payout ratio (DPR) is presently 6.35%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ARCB shares. Truist Financial reduced their price target on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus boosted their target price on shares of ArcBest from $83.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday. TD Cowen decreased their target price on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company upped their price objective on ArcBest from $60.00 to $90.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $94.00.

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.