LSV Asset Management Boosts Holdings in ArcBest Corp (ARCB)
LSV Asset Management raised its position in ArcBest Corp (NASDAQ:ARCB) by 6.9% during the 4th quarter, Holdings Channel reports. The firm owned 278,600 shares of the transportation company’s stock after acquiring an additional 18,100 shares during the quarter. LSV Asset Management’s holdings in ArcBest were worth $9,544,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ARCB. Quantamental Technologies LLC purchased a new stake in shares of ArcBest in the fourth quarter valued at $38,000. Cutler Group LP lifted its position in shares of ArcBest by 202.7% in the third quarter. Cutler Group LP now owns 2,724 shares of the transportation company’s stock valued at $132,000 after acquiring an additional 1,824 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of ArcBest in the third quarter valued at $203,000. Xact Kapitalforvaltning AB lifted its position in shares of ArcBest by 45.8% in the fourth quarter. Xact Kapitalforvaltning AB now owns 7,000 shares of the transportation company’s stock valued at $240,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of ArcBest in the third quarter valued at $247,000. 93.02% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the company. Zacks Investment Research downgraded ArcBest from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Loop Capital reduced their price objective on ArcBest from $47.00 to $46.00 in a research report on Monday, November 5th. BidaskClub upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. SunTrust Banks assumed coverage on ArcBest in a research report on Wednesday, December 12th. They set a “buy” rating and a $47.00 target price on the stock. Finally, Bank of America downgraded ArcBest from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $50.00 to $38.00 in a research report on Tuesday, October 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. ArcBest has an average rating of “Hold” and an average price target of $43.67.
ArcBest (NASDAQ:ARCB) last released its earnings results on Wednesday, January 30th. The transportation company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. ArcBest had a return on equity of 14.95% and a net margin of 2.17%. The firm had revenue of $774.28 million for the quarter, compared to the consensus estimate of $767.78 million. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that ArcBest Corp will post 3.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Friday, February 8th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, February 7th. This represents a $0.32 annualized dividend and a yield of 0.82%. ArcBest’s dividend payout ratio (DPR) is presently 8.29%.
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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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