Westwood Holdings Group Inc. Acquires 16,239 Shares of ArcBest Co. (NASDAQ:ARCB)

Westwood Holdings Group Inc. lifted its stake in ArcBest Co. (NASDAQ:ARCB - Free Report) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 635,858 shares of the transportation company's stock after acquiring an additional 16,239 shares during the quarter. Westwood Holdings Group Inc. owned approximately 2.72% of ArcBest worth $59,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its stake in shares of ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after acquiring an additional 177 shares during the last quarter. R Squared Ltd acquired a new position in shares of ArcBest in the fourth quarter worth $40,000. Smartleaf Asset Management LLC increased its stake in shares of ArcBest by 471.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock worth $51,000 after acquiring an additional 453 shares during the last quarter. KBC Group NV increased its stake 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 worth $107,000 after acquiring an additional 297 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of ArcBest in the fourth quarter worth $206,000. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Stock Performance

ARCB stock traded down $3.15 during mid-day trading on Wednesday, reaching $63.00. 286,806 shares of the stock traded hands, compared to its average volume of 308,546. 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 52 week low of $55.19 and a 52 week high of $129.83. The business has a 50-day moving average of $65.35 and a two-hundred day moving average of $86.52. The firm has a market capitalization of $1.44 billion, a PE ratio of 8.59, a P/E/G ratio of 1.70 and a beta of 1.70.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 quarter last year, the company earned $1.34 earnings per share. The firm's revenue was down 6.7% on a year-over-year basis. As a group, equities analysts predict that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, May 9th. ArcBest's payout ratio is presently 6.35%.

Insider Activity at ArcBest

In related news, CFO John Matthew Beasley bought 700 shares of ArcBest stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. This represents a 9.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on ARCB shares. Citigroup lowered their target price on shares of ArcBest from $83.00 to $66.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Truist Financial lowered their target price 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. Jefferies Financial Group lowered their target price on shares of ArcBest from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley lowered their target price on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group lowered their target price on shares of ArcBest from $97.00 to $84.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $88.25.

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.