Seven Six Capital Management LLC Invests $4.24 Million in ArcBest Co. (NASDAQ:ARCB)

Seven Six Capital Management LLC bought a new position in shares of ArcBest Co. (NASDAQ:ARCB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 45,407 shares of the transportation company's stock, valued at approximately $4,237,000. ArcBest comprises approximately 3.7% of Seven Six Capital Management LLC's holdings, making the stock its 10th biggest holding. Seven Six Capital Management LLC owned about 0.19% of ArcBest as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ARCB. Barclays PLC increased its position in ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock worth $4,678,000 after acquiring an additional 33,386 shares during the period. Crossmark Global Holdings Inc. bought a new position in ArcBest during the fourth quarter worth about $375,000. Lake Hills Wealth Management LLC bought a new position in ArcBest in the 4th quarter valued at about $414,000. Fifth Third Bancorp increased its holdings in ArcBest by 23.1% in the 4th quarter. Fifth Third Bancorp now owns 2,570 shares of the transportation company's stock valued at $240,000 after buying an additional 483 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its holdings in ArcBest by 4.9% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 18,247 shares of the transportation company's stock valued at $1,703,000 after buying an additional 849 shares during the period. Institutional investors and hedge funds own 99.27% of the company's stock.

Insider Buying and Selling at ArcBest

In related news, CFO John Matthew Beasley bought 700 shares of the 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 completion of the purchase, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at $609,754.38. This trade represents a 9.41% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.28% of the company's stock.

ArcBest Stock Performance

Shares of NASDAQ:ARCB traded down $0.42 during midday trading on Tuesday, reaching $66.15. The company had a trading volume of 327,911 shares, compared to its average volume of 308,503. The company's 50 day moving average price is $65.56 and its 200 day moving average price is $86.68. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.52 billion, a P/E ratio of 9.02, a P/E/G ratio of 1.70 and a beta of 1.70. ArcBest Co. has a 52-week low of $55.19 and a 52-week high of $129.83.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $967.08 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. As a group, sell-side analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, May 9th. ArcBest's dividend payout ratio (DPR) is presently 6.35%.

Analyst Upgrades and Downgrades

Several research firms have commented on ARCB. The Goldman Sachs Group decreased their target price on shares of ArcBest from $97.00 to $84.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Stephens restated an "overweight" rating and issued a $116.00 price target on shares of ArcBest in a research note on Tuesday, March 11th. 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 note on Thursday, April 24th. StockNews.com upgraded shares of ArcBest from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, TD Cowen cut their target price on shares of ArcBest from $80.00 to $72.00 and set a "hold" 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $88.25.

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.