First Trust Advisors LP bought a new position in ArcBest Corporation (NASDAQ:ARCB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 80,845 shares of the transportation company’s stock, valued at approximately $1,665,000. First Trust Advisors LP owned about 0.31% of ArcBest Corporation at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its position in ArcBest Corporation by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 12,516 shares of the transportation company’s stock worth $258,000 after buying an additional 100 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in ArcBest Corporation by 12.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 297,333 shares of the transportation company’s stock worth $6,126,000 after buying an additional 31,856 shares during the last quarter. Financial Advisory Service Inc. lifted its position in ArcBest Corporation by 23.9% in the 2nd quarter. Financial Advisory Service Inc. now owns 56,245 shares of the transportation company’s stock worth $1,159,000 after buying an additional 10,849 shares during the last quarter. Sei Investments Co. lifted its position in ArcBest Corporation by 40.8% in the 2nd quarter. Sei Investments Co. now owns 33,684 shares of the transportation company’s stock worth $694,000 after buying an additional 9,764 shares during the last quarter. Finally, Texas Permanent School Fund lifted its position in ArcBest Corporation by 1.7% in the 2nd quarter. Texas Permanent School Fund now owns 17,543 shares of the transportation company’s stock worth $361,000 after buying an additional 299 shares during the last quarter. Institutional investors own 85.83% of the company’s stock.

A number of research firms recently weighed in on ARCB. ValuEngine upgraded ArcBest Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Buckingham Research began coverage on ArcBest Corporation in a research report on Monday, August 21st. They issued a “neutral” rating and a $29.00 price objective for the company. Deutsche Bank AG reiterated a “hold” rating and issued a $29.00 price objective (up previously from $26.00) on shares of ArcBest Corporation in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a “hold” rating on shares of ArcBest Corporation in a research report on Thursday, August 3rd. Finally, TheStreet upgraded ArcBest Corporation from a “c” rating to a “b-” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. ArcBest Corporation presently has a consensus rating of “Hold” and a consensus target price of $30.00.

In other news, insider Daniel E. Loe sold 9,929 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $25.87, for a total value of $256,863.23. Following the completion of the sale, the insider now directly owns 33,600 shares of the company’s stock, valued at approximately $869,232. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James A. Ingram sold 6,918 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $27.14, for a total value of $187,754.52. Following the completion of the sale, the chief operating officer now directly owns 43,500 shares of the company’s stock, valued at $1,180,590. The disclosure for this sale can be found here. Insiders sold a total of 24,210 shares of company stock valued at $665,376 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

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Shares of ArcBest Corporation (NASDAQ:ARCB) opened at 28.17 on Friday. ArcBest Corporation has a 12 month low of $16.95 and a 12 month high of $33.95. The firm has a 50-day moving average price of $27.14 and a 200 day moving average price of $24.08. The company has a market cap of $724.27 million, a P/E ratio of 32.57 and a beta of 1.70.

ArcBest Corporation (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, July 28th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. The business had revenue of $720.40 million during the quarter, compared to analyst estimates of $721.11 million. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. Equities analysts predict that ArcBest Corporation will post $1.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 22nd. Stockholders of record on Tuesday, August 8th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, August 4th. ArcBest Corporation’s payout ratio is 37.21%.

ArcBest Corporation 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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Institutional Ownership by Quarter for ArcBest Corporation (NASDAQ:ARCB)

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