ArcBest Corporation (ARCB) Position Reduced by Systematic Financial Management LP
Systematic Financial Management LP cut its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 0.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,807 shares of the transportation company’s stock after selling 80 shares during the period. Systematic Financial Management LP’s holdings in ArcBest Corporation were worth $1,477,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Essex Investment Management Co. LLC acquired a new stake in ArcBest Corporation during the first quarter valued at approximately $1,086,000. Renaissance Technologies LLC boosted its stake in ArcBest Corporation by 22.3% in the fourth quarter. Renaissance Technologies LLC now owns 594,135 shares of the transportation company’s stock valued at $16,428,000 after buying an additional 108,335 shares during the period. Dimensional Fund Advisors LP boosted its stake in ArcBest Corporation by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,176,259 shares of the transportation company’s stock valued at $60,174,000 after buying an additional 13,903 shares during the period. Russell Investments Group Ltd. acquired a new stake in ArcBest Corporation during the fourth quarter valued at approximately $4,748,000. Finally, Shell Asset Management Co. acquired a new stake in ArcBest Corporation during the first quarter valued at approximately $679,000. Institutional investors own 88.15% of the company’s stock.
Shares of ArcBest Corporation (NASDAQ ARCB) traded down 3.16% during mid-day trading on Friday, hitting $19.90. The stock had a trading volume of 421,657 shares. The company has a 50-day moving average of $20.12 and a 200 day moving average of $26.68. The firm has a market cap of $514.12 million, a price-to-earnings ratio of 30.24 and a beta of 1.53. ArcBest Corporation has a one year low of $14.85 and a one year high of $33.95.
ArcBest Corporation (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, May 5th. The transportation company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.11. ArcBest Corporation had a net margin of 0.64% and a return on equity of 4.14%. The company had revenue of $651.10 million for the quarter, compared to analyst estimates of $659.29 million. During the same period in the prior year, the company posted ($0.23) EPS. The business’s revenue was up 4.8% on a year-over-year basis. On average, equities research analysts forecast that ArcBest Corporation will post $1.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Tuesday, May 16th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, May 12th. This represents a $0.32 annualized dividend and a yield of 1.61%. ArcBest Corporation’s payout ratio is 49.23%.
ARCB has been the subject of several recent analyst reports. Zacks Investment Research cut ArcBest Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Cowen and Company lifted their price target on ArcBest Corporation from $24.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, May 8th. Deutsche Bank AG lowered their price target on ArcBest Corporation from $33.00 to $25.00 and set a “hold” rating for the company in a report on Monday, May 8th. Finally, ValuEngine cut ArcBest Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $25.80.
ArcBest Corporation Company 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).
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