OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Makes New $3.75 Million Investment in ArcBest Co. (NASDAQ:ARCB)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 40,130 shares of the transportation company's stock, valued at approximately $3,745,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of ArcBest as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of ArcBest by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,771,123 shares of the transportation company's stock worth $258,601,000 after purchasing an additional 20,665 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of ArcBest by 9.4% in the fourth quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company's stock valued at $240,011,000 after buying an additional 220,325 shares during the period. American Century Companies Inc. grew its position in ArcBest by 16.3% during the fourth quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company's stock worth $57,758,000 after buying an additional 86,867 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in ArcBest by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 426,155 shares of the transportation company's stock worth $39,769,000 after buying an additional 11,894 shares in the last quarter. Finally, Northern Trust Corp increased its stake in ArcBest by 1.5% during the 4th quarter. Northern Trust Corp now owns 400,005 shares of the transportation company's stock worth $37,328,000 after acquiring an additional 5,739 shares during the period. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Stock Up 14.1%

Shares of ArcBest stock opened at $70.41 on Tuesday. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.70 and a beta of 1.70. The stock's 50-day moving average is $66.31 and its 200 day moving average is $88.08. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. ArcBest Co. has a one year low of $55.19 and a one year 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $967.08 million for the quarter, compared to the consensus estimate of $990.03 million. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. ArcBest's quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. Equities research analysts anticipate that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, May 9th. ArcBest's payout ratio is 6.35%.

Insider Buying and Selling at ArcBest

In other news, CFO John Matthew Beasley purchased 700 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $74.89 per share, with a total value of $52,423.00. Following the purchase, the chief financial officer now owns 8,142 shares in the company, valued at $609,754.38. This represents a 9.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.28% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ARCB. Truist Financial cut their price objective on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus reduced their price objective on ArcBest from $102.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company reduced their target price on shares of ArcBest from $80.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. TD Cowen lowered their target price on ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, StockNews.com upgraded ArcBest from a "sell" rating to a "hold" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $88.75.

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.

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