Towle & Co. Sells 26,031 Shares of ArcBest Corporation $ARCB

Towle & Co. decreased its stake in ArcBest Corporation (NASDAQ:ARCB) by 16.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 136,792 shares of the transportation company’s stock after selling 26,031 shares during the period. ArcBest makes up 2.4% of Towle & Co.’s investment portfolio, making the stock its 16th biggest position. Towle & Co.’s holdings in ArcBest were worth $9,558,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in ArcBest by 300.3% in the first quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company’s stock valued at $1,898,000 after acquiring an additional 20,177 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ArcBest by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company’s stock worth $989,000 after purchasing an additional 619 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of ArcBest by 215.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock valued at $10,808,000 after purchasing an additional 104,643 shares during the last quarter. Jane Street Group LLC increased its position in shares of ArcBest by 278.2% during the first quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock worth $3,218,000 after buying an additional 33,537 shares during the period. Finally, Intech Investment Management LLC raised its stake in ArcBest by 3.4% during the first quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company’s stock worth $1,421,000 after buying an additional 655 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup upped their price target on shares of ArcBest from $104.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Stifel Nicolaus cut their target price on ArcBest from $96.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. JPMorgan Chase & Co. raised their target price on ArcBest from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Jefferies Financial Group lifted their target price on ArcBest from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Bank of America increased their price target on ArcBest from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, ArcBest currently has an average rating of “Hold” and a consensus target price of $97.00.

ArcBest Stock Performance

Shares of ArcBest stock opened at $105.09 on Friday. ArcBest Corporation has a one year low of $55.19 and a one year high of $112.92. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 40.26, a PEG ratio of 13.75 and a beta of 1.54. The business has a 50-day simple moving average of $90.03 and a 200 day simple moving average of $77.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.98.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, January 30th. The transportation company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.09). The firm had revenue of $972.69 million during the quarter, compared to the consensus estimate of $963.74 million. ArcBest had a return on equity of 6.51% and a net margin of 1.50%.The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 EPS. On average, research analysts anticipate that ArcBest Corporation will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.48 annualized dividend and a yield of 0.5%. ArcBest’s dividend payout ratio (DPR) is presently 18.39%.

ArcBest 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.