ArcBest Co. (NASDAQ:ARCB) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in ArcBest Co. (NASDAQ:ARCB) by 16.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 618,919 shares of the transportation company’s stock after buying an additional 86,867 shares during the quarter. American Century Companies Inc.’s holdings in ArcBest were worth $57,758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARCB. State Street Corp raised its holdings in shares of ArcBest by 1.9% in the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after purchasing an additional 17,542 shares during the period. JPMorgan Chase & Co. raised its holdings in ArcBest by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock valued at $24,022,000 after buying an additional 43,707 shares during the period. Intech Investment Management LLC lifted its position in ArcBest by 92.3% during the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock valued at $1,166,000 after buying an additional 5,161 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in ArcBest by 16.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after buying an additional 16,103 shares during the period. Finally, Barclays PLC grew its stake in ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after buying an additional 33,386 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Trading Up 0.4 %

ARCB opened at $73.68 on Thursday. The stock has a market capitalization of $1.71 billion, a PE ratio of 10.05, a P/E/G ratio of 1.70 and a beta of 1.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. ArcBest Co. has a 12-month low of $68.83 and a 12-month high of $153.61. The firm’s fifty day moving average price is $86.27 and its 200 day moving average price is $98.27.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter in the previous year, the business earned $2.47 EPS. As a group, research analysts expect that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a $0.12 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. ArcBest’s payout ratio is 6.55%.

Insider Activity at ArcBest

In other ArcBest news, CFO John Matthew Beasley acquired 700 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $74.89 per share, with a total value of $52,423.00. Following the transaction, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. This represents a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.65% of the company’s stock.

Analyst Ratings Changes

ARCB has been the topic of several recent research reports. Morgan Stanley reduced their target price on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Bank of America reduced their price objective on ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 12th. Truist Financial began coverage on ArcBest in a research note on Thursday, March 13th. They issued a “buy” rating and a $93.00 target price for the company. The Goldman Sachs Group dropped their target price on ArcBest from $126.00 to $108.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, Wells Fargo & Company decreased their price target on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.33.

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.