Wedge Capital Management L L P NC Has $2.09 Million Holdings in ArcBest Co. (NASDAQ:ARCB)

Wedge Capital Management L L P NC grew its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,344 shares of the transportation company’s stock after purchasing an additional 889 shares during the period. Wedge Capital Management L L P NC owned about 0.07% of ArcBest worth $2,085,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Allworth Financial LP grew its stake in shares of ArcBest by 15,450.0% in the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after acquiring an additional 309 shares in the last quarter. SG Americas Securities LLC bought a new stake in ArcBest in the 3rd quarter worth about $141,000. Evergreen Capital Management LLC purchased a new stake in ArcBest in the 3rd quarter valued at about $203,000. First Heartland Consultants Inc. bought a new position in shares of ArcBest during the 3rd quarter worth approximately $204,000. Finally, Greenleaf Trust purchased a new position in shares of ArcBest in the 4th quarter worth approximately $212,000. Institutional investors own 99.27% of the company’s stock.

ArcBest Trading Down 6.1 %

Shares of ARCB stock opened at $137.00 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.13. ArcBest Co. has a 12-month low of $82.18 and a 12-month high of $153.60. The stock has a market capitalization of $3.22 billion, a P/E ratio of 17.32, a P/E/G ratio of 0.60 and a beta of 1.49. The firm’s 50 day moving average is $140.41 and its 200 day moving average is $124.81.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.25. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the business posted $2.45 EPS. Research analysts expect that ArcBest Co. will post 10.05 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.48 annualized dividend and a yield of 0.35%. ArcBest’s dividend payout ratio (DPR) is 6.07%.

Analyst Ratings Changes

ARCB has been the subject of a number of research analyst reports. UBS Group increased their price target on ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of ArcBest in a report on Monday, January 29th. They set a “buy” rating and a $148.00 price objective for the company. Stephens raised their price target on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Bank of America upped their price objective on ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a research note on Monday, April 15th. Finally, Stifel Nicolaus boosted their target price on ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.54.

Insiders Place Their Bets

In related news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now directly owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.18% 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.