ArcBest Corporation (ARCB) Director Sells $230,860.56 in Stock
ArcBest Corporation (NASDAQ:ARCB) Director William Legg sold 6,153 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $37.52, for a total transaction of $230,860.56. Following the completion of the sale, the director now directly owns 36,147 shares of the company’s stock, valued at $1,356,235.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
ArcBest Corporation (NASDAQ ARCB) remained flat at $$35.35 during trading hours on Friday. 207,200 shares of the stock traded hands, compared to its average volume of 246,609. ArcBest Corporation has a fifty-two week low of $16.95 and a fifty-two week high of $38.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $906.26, a P/E ratio of 28.74 and a beta of 1.82.
ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, November 3rd. The transportation company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. ArcBest had a net margin of 0.88% and a return on equity of 5.34%. The business had revenue of $744.30 million during the quarter, compared to analyst estimates of $750.16 million. During the same quarter in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. analysts expect that ArcBest Corporation will post 1.29 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.91%. ArcBest’s dividend payout ratio is currently 34.41%.
Several research firms have issued reports on ARCB. Cowen cut shares of ArcBest from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Stifel Nicolaus reissued a “hold” rating and issued a $28.00 price objective on shares of ArcBest in a research report on Thursday, September 21st. Zacks Investment Research cut shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Bank of America boosted their price objective on shares of ArcBest from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Finally, Buckingham Research began coverage on shares of ArcBest in a research report on Monday, August 21st. They issued a “neutral” rating and a $29.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $31.43.
Several large investors have recently bought and sold shares of the company. Arizona State Retirement System raised its holdings in shares of ArcBest by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 12,516 shares of the transportation company’s stock valued at $258,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of ArcBest by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock valued at $202,000 after purchasing an additional 100 shares in the last quarter. Texas Permanent School Fund raised its holdings in shares of ArcBest by 1.7% in the 2nd quarter. Texas Permanent School Fund now owns 17,543 shares of the transportation company’s stock valued at $361,000 after purchasing an additional 299 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of ArcBest by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 51,568 shares of the transportation company’s stock valued at $1,062,000 after purchasing an additional 309 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its stake in shares of ArcBest by 6.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 14,480 shares of the transportation company’s stock worth $298,000 after acquiring an additional 870 shares in the last quarter. Institutional investors and hedge funds own 89.57% of the company’s stock.
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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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