ArcBest Corporation $ARCB Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. trimmed its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 13.8% in the second quarter, Holdings Channel reports. The firm owned 749,093 shares of the transportation company’s stock after selling 120,174 shares during the period. Westwood Holdings Group Inc.’s holdings in ArcBest were worth $57,688,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its position in shares of ArcBest by 433.3% in the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock worth $30,000 after buying an additional 312 shares during the period. Signaturefd LLC lifted its position in ArcBest by 477.6% during the 1st quarter. Signaturefd LLC now owns 387 shares of the transportation company’s stock worth $27,000 after acquiring an additional 320 shares in the last quarter. CWM LLC boosted its holdings in ArcBest by 338.8% in the 1st quarter. CWM LLC now owns 452 shares of the transportation company’s stock worth $32,000 after acquiring an additional 349 shares during the period. FNY Investment Advisers LLC acquired a new stake in ArcBest in the second quarter valued at approximately $51,000. Finally, GAMMA Investing LLC raised its stake in shares of ArcBest by 11.7% during the second quarter. GAMMA Investing LLC now owns 1,603 shares of the transportation company’s stock valued at $123,000 after purchasing an additional 168 shares during the period. 99.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ARCB. Cowen reaffirmed a “hold” rating on shares of ArcBest in a report on Wednesday, October 1st. Morgan Stanley lowered their target price on ArcBest from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Zacks Research raised ArcBest to a “strong sell” rating in a research report on Monday, August 11th. Stephens downgraded ArcBest from an “overweight” rating to an “equal weight” rating and set a $72.00 price target for the company. in a report on Thursday, November 6th. Finally, TD Cowen cut their target price on shares of ArcBest from $67.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.67.

ArcBest Stock Down 2.2%

Shares of NASDAQ:ARCB opened at $63.96 on Friday. ArcBest Corporation has a 1-year low of $55.19 and a 1-year high of $115.76. The company’s fifty day moving average is $71.09 and its two-hundred day moving average is $71.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 1.35 and a beta of 1.67.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Wednesday, November 5th. The transportation company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 EPS. Equities analysts anticipate that ArcBest Corporation will post 7 EPS for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 14th. ArcBest’s dividend payout ratio is presently 11.40%.

About ArcBest

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.