ArcBest Corporation (ARCB) Position Held by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky continued to hold its stake in shares of ArcBest Corporation (NASDAQ:ARCB) during the first quarter, Holdings Channel reports. The institutional investor owned 9,200 shares of the transportation company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in ArcBest Corporation were worth $239,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the company. Tudor Investment Corp ET AL boosted its stake in ArcBest Corporation by 12.2% in the first quarter. Tudor Investment Corp ET AL now owns 15,600 shares of the transportation company’s stock worth $406,000 after buying an additional 1,700 shares during the period. Jane Street Group LLC purchased a new stake in ArcBest Corporation during the first quarter worth approximately $812,000. AQR Capital Management LLC boosted its stake in ArcBest Corporation by 8.1% in the first quarter. AQR Capital Management LLC now owns 158,440 shares of the transportation company’s stock worth $4,120,000 after buying an additional 11,900 shares during the period. State Street Corp boosted its stake in ArcBest Corporation by 6.0% in the first quarter. State Street Corp now owns 712,078 shares of the transportation company’s stock worth $18,514,000 after buying an additional 40,128 shares during the period. Finally, Bank of America Corp DE boosted its stake in ArcBest Corporation by 22.8% in the first quarter. Bank of America Corp DE now owns 101,923 shares of the transportation company’s stock worth $2,650,000 after buying an additional 18,901 shares during the period. 86.35% of the stock is owned by institutional investors.
ArcBest Corporation (NASDAQ ARCB) traded up 0.97% during mid-day trading on Friday, hitting $26.15. The stock had a trading volume of 73,178 shares. The company has a 50 day moving average price of $22.70 and a 200 day moving average price of $24.68. ArcBest Corporation has a one year low of $16.95 and a one year high of $33.95. The stock has a market cap of $671.79 million, a P/E ratio of 30.23 and a beta of 1.62.
ArcBest Corporation (NASDAQ:ARCB) last issued its earnings results on Friday, July 28th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. ArcBest Corporation had a net margin of 0.83% and a return on equity of 4.92%. The firm had revenue of $720.40 million for the quarter, compared to analysts’ expectations of $721.11 million. During the same quarter last year, the company posted $0.38 earnings per share. ArcBest Corporation’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that ArcBest Corporation will post $1.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Tuesday, August 8th will be issued a $0.08 dividend. The ex-dividend date is Friday, August 4th. This represents a $0.32 dividend on an annualized basis and a yield of 1.24%. ArcBest Corporation’s dividend payout ratio is currently 37.21%.
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A number of research firms have recently commented on ARCB. Stifel Nicolaus reiterated a “hold” rating on shares of ArcBest Corporation in a research report on Thursday, August 3rd. BidaskClub cut ArcBest Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine cut ArcBest Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company lifted their target price on ArcBest Corporation from $24.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, Deutsche Bank AG cut their target price on ArcBest Corporation from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Monday, May 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $27.00.
In other ArcBest Corporation news, insider Daniel E. Loe sold 9,929 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $25.87, for a total value of $256,863.23. Following the transaction, the insider now owns 33,600 shares of the company’s stock, valued at $869,232. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.
ArcBest Corporation Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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