OxFORD Asset Management LLP acquired a new stake in ArcBest Corporation (NASDAQ:ARCB) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 37,509 shares of the transportation company’s stock, valued at approximately $1,236,000. OxFORD Asset Management LLP owned approximately 0.15% of ArcBest as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Pacad Investment Ltd. increased its position in ArcBest by 34.1% in the 2nd quarter. Pacad Investment Ltd. now owns 5,900 shares of the transportation company’s stock worth $122,000 after buying an additional 1,500 shares during the period. BNP Paribas Arbitrage SA increased its position in ArcBest by 61.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock worth $160,000 after buying an additional 2,957 shares during the period. Marshall Wace North America L.P. bought a new position in ArcBest in the 2nd quarter worth approximately $236,000. Arizona State Retirement System increased its position in ArcBest by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 12,516 shares of the transportation company’s stock worth $258,000 after buying an additional 100 shares during the period. Finally, Petrus Trust Company LTA increased its position in ArcBest by 39.8% in the 2nd quarter. Petrus Trust Company LTA now owns 14,047 shares of the transportation company’s stock worth $289,000 after buying an additional 3,996 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Steven Spinner sold 4,000 shares of ArcBest stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $32.00, for a total transaction of $128,000.00. Following the sale, the director now owns 24,700 shares of the company’s stock, valued at approximately $790,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janice E. Stipp sold 3,700 shares of ArcBest stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $38.09, for a total value of $140,933.00. Following the sale, the director now directly owns 20,200 shares in the company, valued at approximately $769,418. The disclosure for this sale can be found here. Insiders have sold a total of 13,853 shares of company stock worth $499,794 in the last three months. 0.97% of the stock is owned by insiders.

Several brokerages have commented on ARCB. Cowen downgraded ArcBest from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $28.00 price target on shares of ArcBest in a research report on Thursday, September 21st. Zacks Investment Research downgraded ArcBest from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Bank of America lifted their price target on ArcBest from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $22.00 price target (up from $21.00) on shares of ArcBest in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $31.43.

Shares of ArcBest Corporation (ARCB) opened at $36.40 on Wednesday. ArcBest Corporation has a fifty-two week low of $16.95 and a fifty-two week high of $38.75. The firm has a market capitalization of $925.49, a P/E ratio of 29.35 and a beta of 1.82. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 3rd. The transportation company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. ArcBest had a return on equity of 5.34% and a net margin of 0.88%. The company had revenue of $744.30 million for the quarter, compared to analyst estimates of $750.16 million. During the same quarter last year, the firm earned $0.48 EPS. ArcBest’s revenue for the quarter was up 4.3% compared to the same quarter last year. research analysts expect that ArcBest Corporation will post 1.29 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, November 13th. ArcBest’s payout ratio is presently 34.41%.

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ArcBest 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 (NASDAQ:ARCB)

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