LSV Asset Management Sells 22,800 Shares of ArcBest Corporation $ARCB

LSV Asset Management reduced its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 449,249 shares of the transportation company’s stock after selling 22,800 shares during the quarter. LSV Asset Management owned approximately 1.98% of ArcBest worth $31,389,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Johnson Investment Counsel Inc. purchased a new stake in shares of ArcBest during the 3rd quarter valued at $28,000. Smartleaf Asset Management LLC grew its position in ArcBest by 26.9% during the third quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock valued at $47,000 after buying an additional 143 shares during the period. FNY Investment Advisers LLC purchased a new stake in ArcBest during the second quarter worth about $51,000. Canada Pension Plan Investment Board bought a new stake in ArcBest in the second quarter worth about $85,000. Finally, Bessemer Group Inc. boosted its stake in ArcBest by 180.9% in the third quarter. Bessemer Group Inc. now owns 1,469 shares of the transportation company’s stock valued at $103,000 after acquiring an additional 946 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

ArcBest Trading Up 2.8%

Shares of ARCB opened at $104.40 on Friday. ArcBest Corporation has a twelve month low of $55.19 and a twelve month high of $112.92. The stock has a market cap of $2.35 billion, a PE ratio of 40.00, a P/E/G ratio of 13.29 and a beta of 1.54. The company has a quick ratio of 0.98, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $86.90 and its 200-day moving average price is $76.35.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, January 30th. The transportation company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.09). ArcBest had a net margin of 1.50% and a return on equity of 6.51%. The firm had revenue of $972.69 million for the quarter, compared to analysts’ expectations of $963.74 million. During the same period in the prior year, the firm posted $1.33 EPS. ArcBest’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. ArcBest’s dividend payout ratio is presently 18.39%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ARCB shares. UBS Group restated a “neutral” rating and set a $98.00 price target on shares of ArcBest in a research note on Wednesday, February 4th. Wells Fargo & Company boosted their target price on ArcBest from $74.00 to $85.00 and gave the company an “equal weight” rating in a research note on Sunday, February 1st. Bank of America increased their price target on ArcBest from $72.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. TD Cowen reissued a “hold” rating on shares of ArcBest in a report on Friday, January 9th. Finally, Citigroup upped their price objective on shares of ArcBest from $104.00 to $105.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $97.00.

About ArcBest

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.