Seven Six Capital Management LLC Makes New Investment in ArcBest Co. (NASDAQ:ARCB)

Seven Six Capital Management LLC purchased a new stake in ArcBest Co. (NASDAQ:ARCB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 45,407 shares of the transportation company's stock, valued at approximately $4,237,000. ArcBest makes up about 3.7% of Seven Six Capital Management LLC's investment portfolio, making the stock its 10th biggest holding. Seven Six Capital Management LLC owned about 0.19% of ArcBest at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ARCB. Blue Trust Inc. increased its stake in shares of ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after purchasing an additional 177 shares during the last quarter. R Squared Ltd acquired a new stake in ArcBest in the fourth quarter valued at about $40,000. Smartleaf Asset Management LLC grew its position in ArcBest by 471.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock valued at $51,000 after acquiring an additional 453 shares during the last quarter. KBC Group NV raised its stake in ArcBest by 34.9% during the fourth quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock worth $107,000 after acquiring an additional 297 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in ArcBest during the fourth quarter worth about $206,000. Institutional investors own 99.27% of the company's stock.

ArcBest Trading Down 1.0%

NASDAQ:ARCB traded down $0.64 during trading hours on Thursday, hitting $62.37. 91,477 shares of the company were exchanged, compared to its average volume of 307,712. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. ArcBest Co. has a one year low of $55.19 and a one year high of $129.83. The company has a fifty day simple moving average of $65.35 and a 200 day simple moving average of $86.52. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its 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 firm had revenue of $967.08 million during 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 revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 earnings per share. Sell-side analysts expect that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, May 9th. ArcBest's payout ratio is presently 6.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARCB shares. TD Cowen reduced their price target on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus cut their target price on shares of ArcBest from $102.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Stephens reaffirmed an "overweight" rating and set a $116.00 target price on shares of ArcBest in a research note on Tuesday, March 11th. Citigroup lowered their price target on shares of ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price objective on ArcBest from $80.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $88.25.

Insider Buying and Selling

In related news, CFO John Matthew Beasley purchased 700 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.28% of the stock is currently owned by company insiders.

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.