2 weeks Ago By ABMN Staff
Bank of Montreal Can lifted its stake in shares of ArcBest Co. ( NASDAQ:ARCB – Free Report ) by 9.1% during the fourth quarter, HoldingsChannel.
com reports. The firm owned 4,568 shares of the transportation company’s stock after purchasing an additional 380 shares during the quarter. Bank of Montreal Can’s holdings in ArcBest were worth $426,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Arizona State Retirement System increased its position in shares of ArcBest by 1.6% during the fourth quarter.
Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock valued at $640,000 after buying an additional 108 shares during the period. Stephens Inc. AR grew its stake in ArcBest by 2.
1% during the fourth quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company’s stock valued at $758,000 after acquiring an additional 170 shares in the last quarter.
Blue Trust Inc. increased its holdings in ArcBest by 146.3% during the 4th quarter.
Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after acquiring an additional 177 shares during the period. Sanctuary Advisors LLC lifted its stake in ArcBest by 5.
4% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,123 shares of the transportation company’s stock worth $453,000 after purchasing an additional 213 shares in the last quarter. Finally, KBC Group NV boosted its holdings 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 purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 99.
27% of the company’s stock. ArcBest Stock Up 3.4 % ARCB opened at $61.
38 on Wednesday. ArcBest Co. has a 12 month low of $57.
38 and a 12 month high of $146.41. 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 business’s 50-day moving average price is $72.92 and its 200-day moving average price is $92.31.
The company has a market cap of $1.42 billion, a P/E ratio of 8.37, a P/E/G ratio of 1.
70 and a beta of 1.62. ArcBest Announces Dividend The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th.
Shareholders of record on Tuesday, February 11th were issued a $0.12 dividend. This represents a $0.
48 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, February 11th.
ArcBest’s dividend payout ratio (DPR) is presently 6.55%. Wall Street Analysts Forecast Growth A number of equities research analysts recently issued reports on the company.
Wells Fargo & Company lowered their price objective on ArcBest from $96.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th.
Truist Financial assumed coverage on shares of ArcBest in a research report on Thursday, March 13th. They issued a “buy” rating and a $93.00 price objective on the stock.
Jefferies Financial Group dropped their target price on shares of ArcBest from $120.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th.
UBS Group decreased their price target on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd.
Finally, The Goldman Sachs Group lowered their price objective on shares of ArcBest from $108.00 to $97.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th.
One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $101.
75. Get Our Latest Analysis on ARCB Insider Buying and Selling at ArcBest In other ArcBest news, CFO John Matthew Beasley bought 700 shares of ArcBest stock in a transaction dated Thursday, March 13th. The shares were purchased 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 owns 8,142 shares of the company’s stock, valued at approximately $609,754.
38. This represents a 9.41 % increase in their ownership of the stock.
The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink . Corporate insiders own 1.28% of the company’s stock.
ArcBest Profile ( Free Report ) 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.
Further Reading 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 ).
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