Holocene Advisors LP Purchases Shares of 7,453 ArcBest Co. (NASDAQ:ARCB)

Holocene Advisors LP acquired a new position in shares of ArcBest Co. (NASDAQ:ARCB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,453 shares of the transportation company’s stock, valued at approximately $808,000.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. acquired a new stake in ArcBest during the 2nd quarter valued at $46,000. SG Americas Securities LLC lifted its position in shares of ArcBest by 949.4% in the second quarter. SG Americas Securities LLC now owns 17,043 shares of the transportation company’s stock valued at $1,825,000 after acquiring an additional 15,419 shares in the last quarter. AlphaMark Advisors LLC boosted its stake in shares of ArcBest by 11.8% during the second quarter. AlphaMark Advisors LLC now owns 2,832 shares of the transportation company’s stock valued at $303,000 after acquiring an additional 300 shares during the last quarter. Nisa Investment Advisors LLC increased its position in ArcBest by 4.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,101 shares of the transportation company’s stock worth $332,000 after purchasing an additional 125 shares in the last quarter. Finally, Cultivar Capital Inc. acquired a new position in ArcBest in the 2nd quarter valued at about $43,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction 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 sale, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. The trade was a 14.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the transaction, the senior vice president now owns 5,051 shares in the company, valued at $609,150.60. This represents a 67.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCB has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Stifel Nicolaus cut their price target on ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a report on Monday, October 21st. UBS Group decreased their price objective on ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Citigroup upped their target price on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley decreased their price target on ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ArcBest has a consensus rating of “Hold” and a consensus target price of $124.50.

ArcBest Stock Down 0.0 %

Shares of NASDAQ:ARCB opened at $107.26 on Friday. The stock has a 50-day simple moving average of $107.29 and a 200-day simple moving average of $108.13. The stock has a market capitalization of $2.51 billion, a P/E ratio of 13.24, a PEG ratio of 2.44 and a beta of 1.49. ArcBest Co. has a 1 year low of $94.76 and a 1 year high of $153.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. ArcBest’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities analysts forecast that ArcBest Co. will post 6.07 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.45%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

ArcBest Company 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.