ArcBest Co. (NASDAQ:ARCB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) by 10.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 322,645 shares of the transportation company's stock after selling 36,894 shares during the period. Victory Capital Management Inc. owned 1.36% of ArcBest worth $38,785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP raised its position in shares of ArcBest by 15,450.0% in the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company's stock worth $32,000 after acquiring an additional 309 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of ArcBest in the 4th quarter worth approximately $39,000. SG Americas Securities LLC bought a new position in shares of ArcBest in the 3rd quarter worth approximately $141,000. Evergreen Capital Management LLC bought a new position in shares of ArcBest in the 3rd quarter worth approximately $203,000. Finally, First Heartland Consultants Inc. purchased a new stake in shares of ArcBest in the 3rd quarter worth approximately $204,000. Institutional investors own 99.27% of the company's stock.

Insider Activity at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.18% of the stock is owned by company insiders.

ArcBest Stock Performance

ArcBest stock traded down $0.89 during mid-day trading on Tuesday, reaching $117.10. 345,449 shares of the stock traded hands, compared to its average volume of 319,718. The stock has a market capitalization of $2.75 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 0.57 and a beta of 1.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.26. ArcBest Co. has a 12-month low of $82.18 and a 12-month high of $153.60. The business's 50-day moving average is $137.12 and its 200-day moving average is $126.16.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 EPS. As a group, sell-side analysts predict that ArcBest Co. will post 9 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, May 9th. ArcBest's dividend payout ratio (DPR) is presently 9.66%.

Analyst Ratings Changes

Several research firms recently weighed in on ARCB. The Goldman Sachs Group upped their price target on ArcBest from $133.00 to $149.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft began coverage on ArcBest in a research note on Monday, January 29th. They issued a "buy" rating and a $148.00 price target on the stock. Bank of America cut their price target on ArcBest from $143.00 to $110.00 and set an "underperform" rating on the stock in a research note on Wednesday, May 1st. UBS Group cut their price target on ArcBest from $150.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 1st. Finally, Stephens upped their price target on ArcBest from $165.00 to $205.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $143.38.

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.