Citadel Advisors LLC purchased a new stake in shares of ArcBest Corporation (NASDAQ:ARCB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 57,857 shares of the transportation company’s stock, valued at approximately $1,192,000. Citadel Advisors LLC owned about 0.23% of ArcBest Corporation as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR increased its position in shares of ArcBest Corporation by 0.7% during the 1st quarter. Stephens Inc. AR now owns 8,728 shares of the transportation company’s stock valued at $227,000 after purchasing an additional 60 shares during the last quarter. Arizona State Retirement System increased its position in shares of ArcBest Corporation by 0.8% during the 1st quarter. Arizona State Retirement System now owns 12,416 shares of the transportation company’s stock valued at $323,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of ArcBest Corporation by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock valued at $202,000 after purchasing an additional 100 shares during the last quarter. Texas Permanent School Fund increased its position in shares of ArcBest Corporation by 1.7% during the 2nd quarter. Texas Permanent School Fund now owns 17,543 shares of the transportation company’s stock valued at $361,000 after purchasing an additional 299 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of ArcBest Corporation by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 51,568 shares of the transportation company’s stock valued at $1,062,000 after purchasing an additional 309 shares during the last quarter. 84.91% of the stock is owned by hedge funds and other institutional investors.

Shares of ArcBest Corporation (ARCB) opened at 33.70 on Thursday. ArcBest Corporation has a 12-month low of $16.95 and a 12-month high of $34.25. The company has a 50-day moving average of $29.32 and a 200 day moving average of $24.35. The stock has a market capitalization of $866.29 million, a price-to-earnings ratio of 38.96 and a beta of 1.78.

ArcBest Corporation (NASDAQ:ARCB) last released its earnings results on Friday, July 28th. The transportation company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The firm had revenue of $720.40 million during the quarter, compared to the consensus estimate of $721.11 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. Analysts predict that ArcBest Corporation will post $1.31 earnings per share for the current year.

In related news, VP Michael R. Johns sold 6,593 shares of ArcBest Corporation stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total transaction of $197,658.14. Following the completion of the sale, the vice president now owns 35,700 shares of the company’s stock, valued at $1,070,286. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James A. Ingram sold 6,918 shares of ArcBest Corporation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $27.14, for a total value of $187,754.52. Following the sale, the chief operating officer now directly owns 43,500 shares of the company’s stock, valued at approximately $1,180,590. The disclosure for this sale can be found here. Insiders have sold 24,210 shares of company stock valued at $665,376 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

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Several equities research analysts have recently commented on the stock. ValuEngine lowered shares of ArcBest Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Stifel Nicolaus reaffirmed a “hold” rating on shares of ArcBest Corporation in a research report on Thursday, August 3rd. Cowen and Company reaffirmed a “buy” rating and set a $29.00 price target on shares of ArcBest Corporation in a research report on Sunday, July 30th. TheStreet raised shares of ArcBest Corporation from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Finally, BidaskClub lowered shares of ArcBest Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $28.75.

ArcBest Corporation Profile

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

Institutional Ownership by Quarter for ArcBest Corporation (NASDAQ:ARCB)

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