Capital Fund Management S.A. Sells 16,661 Shares of ArcBest Co. (NASDAQ:ARCB)

Capital Fund Management S.A. decreased its holdings in ArcBest Co. (NASDAQ:ARCB) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,649 shares of the transportation company’s stock after selling 16,661 shares during the quarter. Capital Fund Management S.A. owned approximately 0.07% of ArcBest worth $1,554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ARCB. Blue Trust Inc. increased its stake in shares of ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after buying an additional 177 shares during the period. R Squared Ltd bought a new stake in ArcBest in the fourth quarter valued at approximately $40,000. Smartleaf Asset Management LLC increased its position in ArcBest by 471.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 453 shares during the period. KBC Group NV raised its holdings in ArcBest by 34.9% during the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company’s stock worth $107,000 after purchasing an additional 297 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of ArcBest in the 4th quarter worth approximately $206,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Price Performance

Shares of ARCB opened at $60.62 on Wednesday. The stock has a market cap of $1.40 billion, a P/E ratio of 8.27, a P/E/G ratio of 1.70 and a beta of 1.62. The business’s fifty day moving average is $76.23 and its 200 day moving average is $93.80. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. ArcBest Co. has a 12-month low of $57.80 and a 12-month high of $150.30.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter in the previous year, the company earned $2.47 earnings per share. Sell-side analysts anticipate that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is presently 6.55%.

Wall Street Analyst Weigh In

ARCB has been the subject of a number of analyst reports. Jefferies Financial Group lowered their target price on shares of ArcBest from $120.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Truist Financial assumed coverage on ArcBest in a research report on Thursday, March 13th. They issued a “buy” rating and a $93.00 price objective for the company. The Goldman Sachs Group cut their target price on ArcBest from $108.00 to $97.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley lowered their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Stifel Nicolaus increased their price target on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $101.75.

Insider Activity

In related news, CFO John Matthew Beasley purchased 700 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now owns 8,142 shares of the company’s stock, valued at $609,754.38. This represents a 9.41 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.28% of the company’s stock.

About ArcBest

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.