J. Goldman & Co LP Invests $1.52 Million in ArcBest Co. (NASDAQ:ARCB)

J. Goldman & Co LP bought a new position in ArcBest Co. (NASDAQ:ARCB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hudson Bay Capital Management LP purchased a new position in ArcBest in the fourth quarter valued at approximately $5,706,000. Eisler Capital Management Ltd. purchased a new stake in shares of ArcBest during the fourth quarter worth $7,695,000. Deutsche Bank AG lifted its position in shares of ArcBest by 19.9% during the fourth quarter. Deutsche Bank AG now owns 42,992 shares of the transportation company's stock worth $4,012,000 after acquiring an additional 7,144 shares in the last quarter. BOKF NA lifted its position in shares of ArcBest by 7.6% during the fourth quarter. BOKF NA now owns 7,516 shares of the transportation company's stock worth $700,000 after acquiring an additional 531 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of ArcBest during the fourth quarter worth $545,000. Hedge funds and other institutional investors own 99.27% of the company's stock.

Insider Activity at ArcBest

In related news, CFO John Matthew Beasley acquired 700 shares of ArcBest stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $74.89 per share, with a total value of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares of the company's stock, valued at $609,754.38. This represents a 9.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.28% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Stephens restated an "overweight" rating and set a $116.00 target price on shares of ArcBest in a research report on Tuesday, March 11th. Bank of America dropped their target price on ArcBest from $100.00 to $73.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 12th. Wells Fargo & Company dropped their target price on ArcBest from $80.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group dropped their target price on ArcBest from $97.00 to $84.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group dropped their target price on ArcBest from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $88.75.

ArcBest Price Performance

ARCB traded down $2.20 during trading on Thursday, reaching $67.79. The stock had a trading volume of 235,121 shares, compared to its average volume of 306,459. The stock has a market cap of $1.55 billion, a PE ratio of 9.25, a PEG 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 one year low of $55.19 and a one year high of $129.83. The business has a 50-day moving average of $66.08 and a 200-day moving average of $87.83.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its earnings results on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $967.08 million during the quarter, compared to the consensus estimate of $990.03 million. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The firm's revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.34 EPS. As a group, equities research analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.71%. ArcBest's dividend payout ratio is presently 6.35%.

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.