8,592 Shares in ArcBest Corporation $ARCB Purchased by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in ArcBest Corporation (NASDAQ:ARCB) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 8,592 shares of the transportation company’s stock, valued at approximately $1,234,000.

Several other institutional investors also recently bought and sold shares of ARCB. AQR Capital Management LLC boosted its stake in shares of ArcBest by 300.3% in the first quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company’s stock worth $1,898,000 after acquiring an additional 20,177 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ArcBest by 4.6% during the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 raised its stake in ArcBest by 278.2% in the 1st quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock valued at $3,218,000 after purchasing an additional 33,537 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in ArcBest by 3.4% in the 1st quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company’s stock valued at $1,421,000 after purchasing an additional 655 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Stock Performance

ArcBest stock opened at $141.12 on Friday. The firm has a 50 day simple moving average of $143.77 and a 200-day simple moving average of $127.09. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 204.52, a price-to-earnings-growth ratio of 0.46 and a beta of 1.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. ArcBest Corporation has a 1-year low of $59.43 and a 1-year high of $176.69.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data 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 firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. On average, analysts expect that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Announces Dividend

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

Insiders Place Their Bets

In other ArcBest news, insider Erin K. Gattis sold 6,163 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total transaction of $862,820.00. Following the completion of the transaction, the insider owned 24,286 shares of the company’s stock, valued at $3,400,040. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Judy R. Mcreynolds sold 2,857 shares of ArcBest stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $138.98, for a total transaction of $397,065.86. Following the sale, the director owned 50,048 shares of the company’s stock, valued at approximately $6,955,671.04. This represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 11,963 shares of company stock valued at $1,678,066. Company insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

ARCB has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of ArcBest in a research report on Tuesday, August 25th. Wall Street Zen raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Bank of America increased their price objective on shares of ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Zacks Research cut ArcBest from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Morgan Stanley upped their price target on ArcBest from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.23.

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.