Janney Montgomery Scott LLC increased its holdings in shares of ArcBest Corp (NASDAQ:ARCB) by 33.9% during the first quarter, HoldingsChannel.com reports. The fund owned 16,259 shares of the transportation company’s stock after buying an additional 4,112 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ArcBest were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Morgan Stanley lifted its position in shares of ArcBest by 145.8% during the third quarter. Morgan Stanley now owns 202,060 shares of the transportation company’s stock worth $9,810,000 after purchasing an additional 119,864 shares in the last quarter. Bank of Montreal Can lifted its position in shares of ArcBest by 10.9% during the fourth quarter. Bank of Montreal Can now owns 88,576 shares of the transportation company’s stock worth $3,035,000 after purchasing an additional 8,732 shares in the last quarter. Eqis Capital Management Inc. lifted its position in shares of ArcBest by 507.7% during the fourth quarter. Eqis Capital Management Inc. now owns 35,417 shares of the transportation company’s stock worth $1,213,000 after purchasing an additional 29,589 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of ArcBest during the fourth quarter worth $38,000. Finally, Arizona State Retirement System lifted its position in shares of ArcBest by 6.2% during the fourth quarter. Arizona State Retirement System now owns 39,562 shares of the transportation company’s stock worth $1,355,000 after purchasing an additional 2,304 shares in the last quarter. Institutional investors and hedge funds own 98.42% of the company’s stock.

ARCB opened at $26.43 on Friday. The firm has a market capitalization of $674.31 million, a P/E ratio of 6.85 and a beta of 2.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.40. ArcBest Corp has a 12-month low of $26.13 and a 12-month high of $51.45.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Thursday, May 2nd. The transportation company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.13). The company had revenue of $711.84 million during the quarter, compared to analyst estimates of $724.33 million. ArcBest had a net margin of 2.00% and a return on equity of 14.19%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share. As a group, equities research analysts anticipate that ArcBest Corp will post 3.44 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, May 13th. This represents a $0.32 annualized dividend and a yield of 1.21%. ArcBest’s payout ratio is 8.29%.

A number of research analysts have recently commented on ARCB shares. Loop Capital boosted their target price on shares of ArcBest from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 31st. Wolfe Research raised shares of ArcBest from an “underperform” rating to a “market perform” rating in a research report on Monday, April 1st. Cowen reaffirmed a “hold” rating and issued a $40.00 price target on shares of ArcBest in a report on Friday, May 3rd. Citigroup cut their price target on shares of ArcBest from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Finally, BidaskClub cut shares of ArcBest from a “sell” rating to a “strong sell” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.89.

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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.

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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