Linden Thomas Advisory Services LLC Boosts Stake in ArcBest Co. (NASDAQ:ARCB)

Linden Thomas Advisory Services LLC raised its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,247 shares of the transportation company’s stock after buying an additional 849 shares during the quarter. Linden Thomas Advisory Services LLC owned about 0.08% of ArcBest worth $1,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. OneDigital Investment Advisors LLC grew its position in ArcBest by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock worth $272,000 after buying an additional 86 shares in the last quarter. Avior Wealth Management LLC grew its position 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 in the last quarter. Nisa Investment Advisors LLC grew its position in ArcBest by 4.0% during the third quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock worth $350,000 after buying an additional 124 shares in the last quarter. Quarry LP boosted its holdings in shares of ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of ArcBest by 4.9% in the 3rd quarter. Empowered Funds LLC now owns 3,695 shares of the transportation company’s stock worth $401,000 after purchasing an additional 173 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

ArcBest Stock Performance

ARCB stock opened at $98.49 on Friday. The company has a market cap of $2.30 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. ArcBest Co. has a 1 year low of $91.01 and a 1 year high of $153.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s fifty day moving average price is $102.45 and its 200-day moving average price is $106.39.

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

ArcBest Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wolfe Research cut ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. UBS Group cut their price objective on ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Stifel Nicolaus upped their price objective on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday. TD Cowen cut ArcBest from a “buy” rating to a “hold” rating and cut their price objective for the stock from $131.00 to $114.00 in a report on Monday, October 14th. Finally, Citigroup upped their price objective on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, ArcBest has a consensus rating of “Hold” and a consensus target price of $125.00.

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.