Menta Capital LLC boosted its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 45.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,561 shares of the transportation company’s stock after purchasing an additional 23,155 shares during the quarter. Menta Capital LLC owned about 0.29% of ArcBest Corporation worth $1,515,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in ArcBest Corporation by 18,670.6% during the first quarter. BlackRock Inc. now owns 3,328,407 shares of the transportation company’s stock valued at $86,539,000 after purchasing an additional 3,310,675 shares in the last quarter. JPMorgan Chase & Co. raised its stake in ArcBest Corporation by 3.1% during the second quarter. JPMorgan Chase & Co. now owns 2,192,311 shares of the transportation company’s stock valued at $45,161,000 after purchasing an additional 65,211 shares in the last quarter. Vanguard Group Inc. raised its stake in ArcBest Corporation by 6.2% during the first quarter. Vanguard Group Inc. now owns 2,133,187 shares of the transportation company’s stock valued at $55,462,000 after purchasing an additional 124,009 shares in the last quarter. Bank of New York Mellon Corp raised its stake in ArcBest Corporation by 41.7% during the first quarter. Bank of New York Mellon Corp now owns 1,056,395 shares of the transportation company’s stock valued at $27,467,000 after purchasing an additional 310,688 shares in the last quarter. Finally, State Street Corp raised its stake in ArcBest Corporation by 6.0% during the first quarter. State Street Corp now owns 712,078 shares of the transportation company’s stock valued at $18,514,000 after purchasing an additional 40,128 shares in the last quarter. 84.91% of the stock is currently owned by institutional investors.

ARCB has been the topic of a number of recent research reports. ValuEngine downgraded shares of ArcBest Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of ArcBest Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. BidaskClub downgraded shares of ArcBest Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Cowen and Company reaffirmed a “buy” rating and set a $29.00 price target on shares of ArcBest Corporation in a research note on Sunday, July 30th. Finally, TheStreet raised shares of ArcBest Corporation from a “c” rating to a “b-” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.60.

In other news, VP Michael R. Johns sold 6,593 shares of ArcBest Corporation stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total transaction of $197,658.14. Following the transaction, the vice president now owns 35,700 shares in the company, valued at approximately $1,070,286. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO James A. Ingram sold 6,918 shares of ArcBest Corporation stock in a transaction on Monday, August 14th. The stock was sold at an average price of $27.14, for a total value of $187,754.52. Following the transaction, the chief operating officer now owns 43,500 shares in the company, valued at approximately $1,180,590. The disclosure for this sale can be found here. Insiders sold a total of 24,210 shares of company stock worth $665,376 in the last 90 days. 0.97% of the stock is currently owned by insiders.

ArcBest Corporation (NASDAQ:ARCB) opened at 30.70 on Friday. The firm’s 50-day moving average is $27.44 and its 200-day moving average is $23.98. The company has a market cap of $789.17 million, a PE ratio of 35.49 and a beta of 1.70. ArcBest Corporation has a 52-week low of $16.95 and a 52-week high of $33.95.

ArcBest Corporation (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, July 28th. The transportation company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The company had revenue of $720.40 million for the quarter, compared to analyst estimates of $721.11 million. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. On average, equities research analysts anticipate that ArcBest Corporation will post $1.31 EPS for the current year.

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ArcBest Corporation 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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Institutional Ownership by Quarter for ArcBest Corporation (NASDAQ:ARCB)

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