Eagle Boston Investment Management Inc. lessened its holdings in shares of ArcBest Corp (NASDAQ:ARCB) by 32.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,554 shares of the transportation company’s stock after selling 31,506 shares during the period. Eagle Boston Investment Management Inc.’s holdings in ArcBest were worth $3,134,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hartford Investment Management Co. acquired a new stake in ArcBest during the 3rd quarter worth approximately $317,000. ClariVest Asset Management LLC increased its position in shares of ArcBest by 63.4% in the 3rd quarter. ClariVest Asset Management LLC now owns 141,481 shares of the transportation company’s stock valued at $6,869,000 after purchasing an additional 54,887 shares during the last quarter. Prudential Financial Inc. increased its position in shares of ArcBest by 45.6% in the 3rd quarter. Prudential Financial Inc. now owns 145,186 shares of the transportation company’s stock valued at $7,049,000 after purchasing an additional 45,470 shares during the last quarter. Cutler Group LP increased its position in shares of ArcBest by 202.7% in the 3rd quarter. Cutler Group LP now owns 2,724 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,824 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of ArcBest by 957.0% in the 3rd quarter. SG Americas Securities LLC now owns 59,035 shares of the transportation company’s stock valued at $2,866,000 after purchasing an additional 53,450 shares during the last quarter. 93.47% of the stock is owned by institutional investors.

Shares of NASDAQ:ARCB opened at $39.69 on Tuesday. ArcBest Corp has a 52 week low of $29.40 and a 52 week high of $51.45. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.25 and a beta of 2.26.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Thursday, November 1st. The transportation company reported $1.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.32. The firm had revenue of $826.20 million for the quarter, compared to the consensus estimate of $815.82 million. ArcBest had a net margin of 2.92% and a return on equity of 12.98%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, research analysts forecast that ArcBest Corp will post 3.7 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Tuesday, November 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, November 9th. ArcBest’s dividend payout ratio (DPR) is 24.06%.

A number of equities research analysts have commented on ARCB shares. Wolfe Research downgraded shares of ArcBest from a “peer perform” rating to an “underperform” rating in a research report on Friday, October 5th. Morgan Stanley set a $39.00 price objective on shares of ArcBest and gave the company a “hold” rating in a research report on Monday, October 22nd. BidaskClub downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Loop Capital started coverage on shares of ArcBest in a research report on Monday, October 1st. They issued a “hold” rating and a $47.00 price objective on the stock. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $46.00 price objective on shares of ArcBest in a research report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $44.33.

In related news, VP Michael R. Johns sold 4,409 shares of the stock in a transaction on Friday, November 16th. The shares were sold at an average price of $40.16, for a total value of $177,065.44. Following the transaction, the vice president now directly owns 34,200 shares of the company’s stock, valued at approximately $1,373,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James David Darter sold 2,062 shares of the stock in a transaction on Friday, November 9th. The shares were sold at an average price of $40.54, for a total transaction of $83,593.48. Following the completion of the transaction, the insider now directly owns 24,424 shares in the company, valued at $990,148.96. The disclosure for this sale can be found here. Insiders sold a total of 10,459 shares of company stock worth $420,657 over the last ninety days. Insiders own 1.19% of the company’s stock.

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ArcBest Profile

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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