ArcBest Corp (ARCB) Stake Decreased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC cut its position in shares of ArcBest Corp (NASDAQ:ARCB) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 250,680 shares of the transportation company’s stock after selling 6,135 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.98% of ArcBest worth $12,169,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Globeflex Capital L P bought a new position in ArcBest during the second quarter valued at approximately $133,000. Meeder Asset Management Inc. boosted its stake in ArcBest by 184.3% during the second quarter. Meeder Asset Management Inc. now owns 3,997 shares of the transportation company’s stock valued at $183,000 after buying an additional 2,591 shares during the last quarter. Capital Fund Management S.A. bought a new position in ArcBest during the second quarter valued at approximately $201,000. Marshall Wace LLP bought a new position in ArcBest during the second quarter valued at approximately $210,000. Finally, Xact Kapitalforvaltning AB bought a new position in ArcBest during the second quarter valued at approximately $219,000. 94.16% of the stock is owned by institutional investors.

Shares of ARCB stock opened at $39.90 on Friday. ArcBest Corp has a 1 year low of $29.40 and a 1 year high of $51.45. The company has a current ratio of 1.39, a quick ratio of 1.31 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 0.27 and a beta of 2.26.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Thursday, November 1st. The transportation company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.32. ArcBest had a return on equity of 12.98% and a net margin of 2.92%. The business had revenue of $826.20 million for the quarter, compared to the consensus estimate of $815.82 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that ArcBest Corp will post 3.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Tuesday, November 13th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. ArcBest’s dividend payout ratio (DPR) is presently 24.06%.

A number of brokerages recently commented on ARCB. Buckingham Research increased their price target on ArcBest from $43.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, August 9th. Bank of America increased their price target on ArcBest from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, August 1st. BidaskClub raised ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. ValuEngine lowered ArcBest from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $46.00 price target on shares of ArcBest in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.33.

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About ArcBest

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.

Read More: Earnings Per Share (EPS) Explained

Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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