LSV Asset Management Trims Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

LSV Asset Management decreased its stake in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 601,049 shares of the transportation company's stock after selling 43,900 shares during the period. LSV Asset Management owned about 2.54% of ArcBest worth $72,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARCB. Northern Trust Corp raised its stake in ArcBest by 9.4% during the 3rd quarter. Northern Trust Corp now owns 458,090 shares of the transportation company's stock valued at $46,565,000 after buying an additional 39,215 shares during the last quarter. American Century Companies Inc. lifted its holdings in ArcBest by 10.5% in the third quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company's stock valued at $38,445,000 after acquiring an additional 35,968 shares during the period. Charles Schwab Investment Management Inc. boosted its position in ArcBest by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 364,314 shares of the transportation company's stock worth $37,033,000 after purchasing an additional 7,094 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of ArcBest during the 3rd quarter valued at about $29,108,000. Finally, Bank of New York Mellon Corp increased its position in shares of ArcBest by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 281,693 shares of the transportation company's stock valued at $28,634,000 after purchasing an additional 1,934 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.

Insider Activity at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the sale, the insider now owns 32,247 shares of the company's stock, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.65% of the stock is currently owned by insiders.

ArcBest Price Performance

ARCB stock traded up $2.18 during mid-day trading on Friday, hitting $114.85. The company had a trading volume of 378,673 shares, compared to its average volume of 399,728. The company has a 50-day moving average price of $137.54 and a 200 day moving average price of $125.99. ArcBest Co. has a 12-month low of $82.18 and a 12-month high of $153.60. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 0.53 and a beta of 1.56. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its earnings results on Tuesday, April 30th. The transportation company reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.53 by ($0.19). The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. ArcBest's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. On average, research analysts anticipate that ArcBest Co. will post 9 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.42%. ArcBest's dividend payout ratio is currently 9.66%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARCB. TD Cowen cut their target price on shares of ArcBest from $177.00 to $148.00 and set a "buy" rating for the company in a research report on Wednesday. UBS Group decreased their target price on ArcBest from $150.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday. Stephens boosted their price target on ArcBest from $165.00 to $205.00 and gave the company an "overweight" rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on ArcBest in a research note on Monday, January 29th. They set a "buy" rating and a $148.00 price objective for the company. Finally, StockNews.com cut shares of ArcBest from a "buy" rating to a "hold" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $143.38.

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.