Zimmer Partners LP Increases Position in ArcBest Co. (NASDAQ:ARCB)

Zimmer Partners LP lifted its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,000 shares of the transportation company's stock after acquiring an additional 20,000 shares during the quarter. Zimmer Partners LP owned 0.45% of ArcBest worth $9,799,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ARCB. Alliancebernstein L.P. increased its position in shares of ArcBest by 9.4% during the fourth quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company's stock worth $240,011,000 after acquiring an additional 220,325 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of ArcBest by 47.2% during the fourth quarter. JPMorgan Chase & Co. now owns 326,006 shares of the transportation company's stock worth $30,423,000 after acquiring an additional 104,499 shares during the last quarter. American Century Companies Inc. increased its position in shares of ArcBest by 16.3% during the fourth quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company's stock worth $57,758,000 after acquiring an additional 86,867 shares during the last quarter. Eisler Capital Management Ltd. purchased a new stake in shares of ArcBest during the fourth quarter worth about $7,695,000. Finally, Norges Bank purchased a new stake in shares of ArcBest during the fourth quarter worth about $5,826,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Down 0.5%

NASDAQ:ARCB opened at $66.57 on Tuesday. The firm has a market capitalization of $1.53 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. The stock has a 50 day moving average of $65.69 and a 200-day moving average of $86.83. ArcBest Co. has a 52 week low of $55.19 and a 52 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.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $967.08 million for the quarter, compared to analyst estimates of $990.03 million. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. The business's quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 earnings per share. Analysts predict that ArcBest Co. will post 7 EPS for the current year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. ArcBest's dividend payout ratio is presently 6.35%.

Analysts Set New Price Targets

A number of research firms recently commented on ARCB. Stifel Nicolaus decreased their price target on ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Stephens reiterated an "overweight" rating and issued a $116.00 price target on shares of ArcBest in a research note on Tuesday, March 11th. UBS Group decreased their price target on ArcBest from $100.00 to $64.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group decreased their price target on ArcBest from $97.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Finally, StockNews.com upgraded ArcBest from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $88.25.

Insider Transactions at ArcBest

In other ArcBest news, CFO John Matthew Beasley acquired 700 shares of ArcBest stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.28% of the company's stock.

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.

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