Segall Bryant & Hamill LLC Sells 7,087 Shares of ArcBest Corporation $ARCB

Segall Bryant & Hamill LLC trimmed its position in shares of ArcBest Corporation (NASDAQ:ARCB) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,415 shares of the transportation company’s stock after selling 7,087 shares during the period. Segall Bryant & Hamill LLC’s holdings in ArcBest were worth $13,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of ArcBest by 100.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 87,256 shares of the transportation company’s stock worth $6,734,000 after purchasing an additional 43,803 shares during the last quarter. Aberdeen Group plc bought a new stake in shares of ArcBest in the 4th quarter valued at about $7,240,000. Unison Advisors LLC acquired a new stake in ArcBest in the 4th quarter valued at about $780,000. Principal Financial Group Inc. lifted its stake in ArcBest by 349.9% in the 4th quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock valued at $36,634,000 after purchasing an additional 384,024 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in ArcBest by 19,008.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 122,292 shares of the transportation company’s stock worth $9,073,000 after purchasing an additional 121,652 shares during the period. 99.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ARCB shares. JPMorgan Chase & Co. boosted their price target on ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Wells Fargo & Company raised their price objective on ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, June 5th. Stephens upgraded ArcBest to a “strong-buy” rating in a research note on Wednesday, July 8th. UBS Group boosted their target price on ArcBest from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Finally, Bank of America boosted their target price on ArcBest from $138.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.08.

ArcBest Stock Performance

NASDAQ ARCB opened at $144.35 on Friday. The stock has a market cap of $3.21 billion, a PE ratio of 209.20, a P/E/G ratio of 0.52 and a beta of 1.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.97. The firm has a 50-day moving average of $148.91 and a 200-day moving average of $119.59. ArcBest Corporation has a 52-week low of $59.43 and a 52-week high of $176.69.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.12. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. ArcBest’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 EPS. On average, sell-side analysts anticipate that ArcBest Corporation will post 6.73 EPS for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. ArcBest’s dividend payout ratio is presently 69.57%.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.