Linden Thomas Advisory Services LLC Purchases 849 Shares of ArcBest Co. (NASDAQ:ARCB)

Linden Thomas Advisory Services LLC lifted its position in ArcBest Co. (NASDAQ:ARCB) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,247 shares of the transportation company’s stock after purchasing an additional 849 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in ArcBest were worth $1,703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARCB. Quarry LP boosted its position in shares of ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after buying an additional 134 shares during the period. GAMMA Investing LLC lifted its holdings in ArcBest by 63.7% during the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock worth $56,000 after buying an additional 200 shares during the period. Quest Partners LLC lifted its holdings in ArcBest by 60.6% during the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after buying an additional 206 shares during the period. Avior Wealth Management LLC lifted its holdings in ArcBest by 17.9% during the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after buying an additional 95 shares during the period. Finally, KBC Group NV lifted its holdings in shares of ArcBest by 36.8% during the 3rd quarter. KBC Group NV now owns 851 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Analysts Set New Price Targets

ARCB has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Morgan Stanley decreased their price objective on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Jefferies Financial Group cut their target price on ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Stifel Nicolaus upped their target price on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday. Finally, TD Cowen downgraded ArcBest from a “buy” rating to a “hold” rating and cut their target price for the company from $131.00 to $114.00 in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $125.00.

ArcBest Price Performance

NASDAQ:ARCB opened at $98.49 on Friday. ArcBest Co. has a 52 week low of $91.01 and a 52 week high of $153.60. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.30 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The stock’s 50-day moving average price is $102.45 and its 200-day moving average price is $106.39.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 earnings per share. As a group, equities analysts expect that ArcBest Co. will post 6.02 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is 5.93%.

Insiders Place Their Bets

In other news, SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the sale, the senior vice president now owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.

ArcBest Profile

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.