Principal Financial Group Inc. Sells 5,665 Shares of ArcBest Corporation $ARCB

Principal Financial Group Inc. decreased its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,115 shares of the transportation company’s stock after selling 5,665 shares during the period. Principal Financial Group Inc. owned 2.19% of ArcBest worth $48,011,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its stake in shares of ArcBest by 126.6% in the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after acquiring an additional 567 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of ArcBest during the second quarter valued at approximately $85,000. Hantz Financial Services Inc. grew its stake in shares of ArcBest by 507.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 934 shares during the last quarter. Assetmark Inc. increased its holdings in shares of ArcBest by 5,940.0% in the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 1,188 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of ArcBest by 69.4% in the fourth quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 532 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Stephens raised ArcBest to a “strong-buy” rating in a report on Wednesday, July 8th. The Goldman Sachs Group lifted their target price on ArcBest from $117.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Zacks Research upgraded ArcBest from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Citigroup initiated coverage on ArcBest in a research note on Wednesday. They set a “market outperform” rating on the stock. Finally, Wells Fargo & Company raised their price target on ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $151.85.

Key Headlines Impacting ArcBest

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: Zacks said earnings estimate revisions for ArcBest are trending higher, which often supports a stronger stock price when analysts expect improving profitability. Earnings Estimates Rising for ArcBest (ARCB): Will It Gain?
• Positive Sentiment: Truist reportedly raised its price target on ArcBest to $165, and Citizens JMP initiated coverage, adding to the bullish analyst backdrop. ArcBest (NASDAQ:ARCB) Given New $165.00 Price Target at Truist Financial
• Positive Sentiment: ArcBest announced a simplified brand structure and operational streamlining, with MoLo Solutions, Panther Premium Logistics, and ArcBest Technologies consolidating under the ArcBest name, a move aimed at long-term growth and efficiency. ArcBest Simplifies Brand Structure and Streamlines Operations to Drive Long-Term Growth and Efficiency
• Positive Sentiment: The company also plans to reduce about 2% of its workforce and close 10 LTL terminals, which could lower costs and improve margins if execution goes well. ArcBest to Consolidate Brands, Cut About 2% of Workforce
• Neutral Sentiment: Momentum-focused coverage noted that ArcBest has gained about 5.34% over the past week, reinforcing recent trader interest but not adding a new fundamental catalyst. ArcBest (ARCB) Is Up 5.34% in One Week: What You Should Know
• Neutral Sentiment: Zacks also highlighted ArcBest as a fast-paced momentum stock that may still be reasonably valued, which supports the stock’s current trading interest. ArcBest (ARCB) Shows Fast-paced Momentum But Is Still a Bargain Stock

ArcBest Price Performance

Shares of ARCB stock opened at $159.81 on Friday. The firm’s 50 day moving average price is $142.59 and its two-hundred day moving average price is $114.61. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93. ArcBest Corporation has a 52-week low of $59.43 and a 52-week high of $176.69. The stock has a market cap of $3.56 billion, a PE ratio of 65.77, a PEG ratio of 0.66 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The company had revenue of $998.79 million for the quarter, compared to the consensus estimate of $999.07 million. During the same quarter in the prior year, the business posted $0.51 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts forecast that ArcBest Corporation will post 6.38 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, May 8th. ArcBest’s dividend payout ratio is presently 19.75%.

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.