John G Ullman & Associates Inc. Has $3.03 Million Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

John G Ullman & Associates Inc. lessened its position in ArcBest Co. (NASDAQ:ARCBFree Report) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,225 shares of the transportation company’s stock after selling 525 shares during the quarter. John G Ullman & Associates Inc. owned approximately 0.09% of ArcBest worth $3,025,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in shares of ArcBest by 31.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,199 shares of the transportation company’s stock worth $5,611,000 after purchasing an additional 13,165 shares during the last quarter. Verity Asset Management Inc. increased its position in shares of ArcBest by 18.1% during the 3rd quarter. Verity Asset Management Inc. now owns 2,658 shares of the transportation company’s stock worth $270,000 after purchasing an additional 408 shares during the last quarter. American Century Companies Inc. increased its position in shares of ArcBest by 10.5% during the 3rd quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company’s stock worth $38,445,000 after purchasing an additional 35,968 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of ArcBest during the 3rd quarter worth approximately $10,561,000. Finally, Horrell Capital Management Inc. boosted its stake in shares of ArcBest by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 29,224 shares of the transportation company’s stock worth $3,513,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com downgraded ArcBest from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Bank of America reduced their target price on ArcBest from $143.00 to $110.00 and set an “underperform” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. downgraded ArcBest from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $145.00 to $127.00 in a research note on Tuesday. TD Cowen reduced their target price on ArcBest from $177.00 to $148.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Morgan Stanley reduced their target price on ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.69.

Read Our Latest Stock Report on ARCB

ArcBest Price Performance

Shares of NASDAQ:ARCB traded up $4.19 during trading on Thursday, reaching $111.41. 158,823 shares of the company traded hands, compared to its average volume of 303,399. The company’s 50 day moving average is $108.83 and its two-hundred day moving average is $124.27. The firm has a market capitalization of $2.61 billion, a PE ratio of 22.42, a PEG ratio of 0.84 and a beta of 1.48. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. ArcBest Co. has a 52 week low of $86.93 and a 52 week high of $153.60.

ArcBest (NASDAQ:ARCBGet Free Report) last released its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 earnings per share. As a group, sell-side analysts predict that ArcBest Co. will post 8.54 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.43%. ArcBest’s dividend payout ratio (DPR) is currently 9.66%.

About ArcBest

(Free Report)

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.

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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