2 weeks Ago By Defense World Staff
Bank of Montreal Can boosted its position in ArcBest Co. (NASDAQ:ARCB – Free Report) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission.
The institutional investor owned 4,568 shares of the transportation company’s stock after purchasing an additional 380 shares during the period. Bank of Montreal Can’s holdings in ArcBest were worth $426,000 at the end of the most recent quarter. Other large investors have also recently bought and sold shares of the company.
JPMorgan Chase & Co. raised its position in ArcBest by 24.6% during the 3rd quarter.
JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after purchasing an additional 43,707 shares during the last quarter. Barclays PLC raised its position in shares of 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 last quarter. Victory Capital Management Inc.
increased its position in shares of ArcBest by 6.0% during the fourth quarter. Victory Capital Management Inc.
now owns 232,627 shares of the transportation company’s stock worth $21,709,000 after buying an additional 13,152 shares during the period. Sanctuary Advisors LLC lifted its holdings in ArcBest by 7.4% in the fourth quarter.
Sanctuary Advisors LLC now owns 4,429 shares of the transportation company’s stock valued at $419,000 after buying an additional 306 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in ArcBest by 41.5% during the fourth quarter.
Teacher Retirement System of Texas now owns 3,190 shares of the transportation company’s stock valued at $298,000 after acquiring an additional 935 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.
Insider Buying and Selling at ArcBestIn other news, CFO John Matthew Beasley acquired 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, for a total transaction of $52,423.
00. Following the purchase, the chief financial officer now owns 8,142 shares of the company’s stock, valued at approximately $609,754.38.
The trade was a 9.41 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Corporate insiders own 1.28% of the company’s stock. ArcBest Stock PerformanceARCB stock opened at $61.
38 on Wednesday. The business has a 50 day moving average of $72.92 and a 200-day moving average of $92.
31. The firm has a market cap of $1.42 billion, a PE ratio of 8.
37, a P/E/G ratio of 1.70 and a beta of 1.62.
ArcBest Co. has a 12-month low of $57.38 and a 12-month high of $146.
41. The company has a quick ratio of 1.04, a current ratio of 1.
01 and a debt-to-equity ratio of 0.10. ArcBest (NASDAQ:ARCB – Get Free Report) last released its earnings results on Friday, January 31st.
The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.
22. ArcBest had a return on equity of 11.79% and a net margin of 4.
16%. During the same quarter in the previous year, the business posted $2.47 EPS.
As a group, sell-side analysts expect that ArcBest Co. will post 7 earnings per share for the current year. ArcBest Dividend AnnouncementThe company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th.
Shareholders of record on Tuesday, February 11th were paid a $0.12 dividend. The ex-dividend date was Tuesday, February 11th.
This represents a $0.48 annualized dividend and a dividend yield of 0.78%.
ArcBest’s payout ratio is presently 6.55%. Analysts Set New Price TargetsARCB has been the subject of a number of research analyst reports.
Wells Fargo & Company decreased their target price on ArcBest from $96.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th.
Morgan Stanley lowered their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd.
Jefferies Financial Group reduced their price target 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.
Truist Financial started coverage on shares of ArcBest in a research note on Thursday, March 13th. They set a “buy” rating and a $93.00 price target for the company.
Finally, UBS Group reduced their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, February 3rd.
One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.75.
Check Out Our Latest Stock Report on ARCBAbout ArcBest (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 ReadingFive stocks we like better than ArcBest3 Stocks to Consider Buying in OctoberHow to Invest in Micro-Cap Stocks Like a ProFinancial Services Stocks InvestingInvestors Sell Microsoft Stock on OpenAI News—Time to Buy? How to Most Effectively Use the MarketBeat Earnings ScreenerTake-Two Interactive: A Defensive Play Set to Explode.
