Susquehanna Fundamental Investments LLC Buys Shares of 11,400 ArcBest Co. (NASDAQ:ARCB)

Susquehanna Fundamental Investments LLC purchased a new position in ArcBest Co. (NASDAQ:ARCB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,400 shares of the transportation company's stock, valued at approximately $1,064,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Blue Trust Inc. increased its stake in ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after purchasing an additional 177 shares during the period. R Squared Ltd purchased a new position in ArcBest in the 4th quarter worth about $40,000. Smartleaf Asset Management LLC lifted its holdings in ArcBest by 471.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock valued at $51,000 after buying an additional 453 shares in the last quarter. KBC Group NV boosted its position in ArcBest by 34.9% in the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock valued at $107,000 after buying an additional 297 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in ArcBest in the 4th quarter valued at about $206,000. 99.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ARCB. The Goldman Sachs Group lowered their price target on ArcBest from $97.00 to $84.00 and set a "neutral" rating for the company in a report on Wednesday. Citigroup dropped their price target on ArcBest from $83.00 to $66.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group decreased their price objective on ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Bank of America dropped their target price on shares of ArcBest from $100.00 to $73.00 and set an "underperform" rating on the stock in a report on Wednesday, March 12th. Finally, Morgan Stanley reduced their price target on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, ArcBest has an average rating of "Hold" and an average target price of $88.75.

Insiders Place Their Bets

In other news, CFO John Matthew Beasley purchased 700 shares of the company's stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $74.89 per share, for a total transaction 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 trade represents a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.28% of the stock is owned by insiders.

ArcBest Stock Performance

Shares of ARCB stock opened at $57.81 on Friday. 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 company has a market cap of $1.34 billion, a PE ratio of 7.89, a PEG ratio of 1.70 and a beta of 1.62. ArcBest Co. has a 12-month low of $55.19 and a 12-month high of $129.83. The business's fifty day simple moving average is $68.52 and its 200-day simple moving average is $90.28.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The business had revenue of $967.08 million during the quarter, compared to analysts' expectations of $990.03 million. During the same quarter last year, the business posted $1.34 earnings per share. The company's quarterly revenue was down 6.7% compared to the same quarter last year. Analysts expect that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, May 9th. ArcBest's dividend payout ratio (DPR) is presently 6.55%.

ArcBest 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.

Want to see what other hedge funds are holding ARCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ArcBest Co. (NASDAQ:ARCB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.