16,275 Shares in ArcBest Co. (NASDAQ:ARCB) Bought by J. Goldman & Co LP

J. Goldman & Co LP bought a new position in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,275 shares of the transportation company's stock, valued at approximately $1,519,000. J. Goldman & Co LP owned about 0.07% of ArcBest at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC boosted its holdings in shares of ArcBest by 342.5% during the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock worth $4,678,000 after purchasing an additional 33,386 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of ArcBest by 6.0% during the 4th quarter. Victory Capital Management Inc. now owns 232,627 shares of the transportation company's stock valued at $21,709,000 after buying an additional 13,152 shares during the period. Sanctuary Advisors LLC raised its position in shares of ArcBest by 7.4% during the 4th quarter. Sanctuary Advisors LLC now owns 4,429 shares of the transportation company's stock valued at $419,000 after buying an additional 306 shares during the period. Teacher Retirement System of Texas raised its position in shares of ArcBest by 41.5% during the 4th quarter. Teacher Retirement System of Texas now owns 3,190 shares of the transportation company's stock valued at $298,000 after buying an additional 935 shares during the period. Finally, Norges Bank purchased a new stake in shares of ArcBest during the 4th quarter valued at approximately $5,826,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ARCB. 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. Citigroup reduced their price target 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. The Goldman Sachs Group reduced their price target 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. StockNews.com raised shares of ArcBest from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Stifel Nicolaus cut their target price on ArcBest from $102.00 to $83.00 and set a "buy" 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 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 an average price target of $88.25.

ArcBest Stock Down 1.3%

Shares of NASDAQ:ARCB traded down $0.86 during trading on Friday, hitting $66.93. The company's stock had a trading volume of 315,581 shares, compared to its average volume of 307,464. The business has a 50 day moving average price of $65.82 and a two-hundred day moving average price of $87.18. The company has a market capitalization of $1.53 billion, a PE ratio of 9.13, a P/E/G ratio of 1.70 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. ArcBest Co. has a fifty-two week low of $55.19 and a fifty-two week high of $129.83.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $967.08 million during 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 revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.34 EPS. As a group, research analysts expect that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.12 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. ArcBest's dividend payout ratio (DPR) is 6.35%.

Insiders Place Their Bets

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the company's stock in a transaction 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 directly owns 8,142 shares in the company, valued at approximately $609,754.38. The trade was 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. 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.