ArcBest Co. (NASDAQ:ARCB) Holdings Boosted by Invesco Ltd.

Invesco Ltd. boosted its holdings in ArcBest Co. (NASDAQ:ARCB - Free Report) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,375 shares of the transportation company's stock after purchasing an additional 30,906 shares during the quarter. Invesco Ltd. owned about 0.58% of ArcBest worth $12,727,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bank of Montreal Can lifted its stake in shares of ArcBest by 9.1% in the 4th quarter. Bank of Montreal Can now owns 4,568 shares of the transportation company's stock worth $426,000 after acquiring an additional 380 shares during the period. Envestnet Asset Management Inc. boosted its holdings in ArcBest by 18.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 37,597 shares of the transportation company's stock valued at $3,509,000 after purchasing an additional 5,835 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in ArcBest by 4.2% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 257,060 shares of the transportation company's stock worth $23,989,000 after purchasing an additional 10,390 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of ArcBest during the 4th quarter worth approximately $243,000. Finally, Bryce Point Capital LLC acquired a new stake in shares of ArcBest in the 4th quarter valued at approximately $305,000. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Stock Down 9.7 %

Shares of NASDAQ:ARCB traded down $6.25 during midday trading on Friday, hitting $58.42. 772,339 shares of the company's stock traded hands, compared to its average volume of 298,480. ArcBest Co. has a twelve month low of $57.38 and a twelve month high of $132.00. The company has a market cap of $1.35 billion, a PE ratio of 7.97, a P/E/G ratio of 1.70 and a beta of 1.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The firm's fifty day moving average price is $70.94 and its two-hundred day moving average price is $91.54.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period in the prior year, the business earned $2.47 earnings per share. On average, equities research analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.82%. ArcBest's dividend payout ratio is presently 6.55%.

Analyst Ratings Changes

ARCB has been the subject 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 for the company in a research report on Wednesday, April 9th. UBS Group decreased their price target on ArcBest from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus raised their price target on ArcBest from $109.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Stephens reaffirmed an "overweight" rating and issued a $116.00 price target on shares of ArcBest in a report on Tuesday, March 11th. Finally, Morgan Stanley cut their target price on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $101.50.

Insider Buying and Selling

In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the business's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $74.89 per share, with a total value of $52,423.00. Following the transaction, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.