Steven Spinner Sells 4,000 Shares of ArcBest Corporation (ARCB) Stock
ArcBest Corporation (NASDAQ:ARCB) Director Steven Spinner sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $32.00, for a total value of $128,000.00. Following the completion of the sale, the director now directly owns 24,700 shares of the company’s stock, valued at $790,400. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of ArcBest Corporation (ARCB) remained flat at $$32.35 during mid-day trading on Friday. The company’s stock had a trading volume of 215,505 shares, compared to its average volume of 230,704. The stock has a market capitalization of $829.36, a price-to-earnings ratio of 26.30 and a beta of 1.78. ArcBest Corporation has a 12-month low of $16.95 and a 12-month high of $34.45. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.33.
ArcBest Corporation (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, November 3rd. The transportation company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. The firm had revenue of $744.30 million during the quarter, compared to analysts’ expectations of $750.16 million. ArcBest Corporation had a return on equity of 5.34% and a net margin of 0.88%. ArcBest Corporation’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. research analysts forecast that ArcBest Corporation will post 1.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.32 annualized dividend and a yield of 0.99%. ArcBest Corporation’s dividend payout ratio is presently 34.41%.
Several research firms have recently commented on ARCB. BidaskClub cut ArcBest Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Stifel Nicolaus reissued a “hold” rating on shares of ArcBest Corporation in a report on Thursday, August 3rd. ValuEngine cut ArcBest Corporation from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Buckingham Research began coverage on ArcBest Corporation in a report on Monday, August 21st. They issued a “neutral” rating and a $29.00 price target for the company. Finally, Zacks Investment Research cut ArcBest Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $30.86.
Hedge funds have recently modified their holdings of the stock. Pacad Investment Ltd. raised its holdings in ArcBest Corporation by 34.1% during the second quarter. Pacad Investment Ltd. now owns 5,900 shares of the transportation company’s stock worth $122,000 after purchasing an additional 1,500 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in ArcBest Corporation by 61.6% during the second quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock worth $160,000 after buying an additional 2,957 shares in the last quarter. Stephens Inc. AR purchased a new position in ArcBest Corporation during the third quarter worth $299,000. Louisiana State Employees Retirement System increased its position in ArcBest Corporation by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock worth $202,000 after buying an additional 100 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in ArcBest Corporation during the second quarter worth $236,000. 84.80% of the stock is owned by hedge funds and other institutional investors.
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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