56,817 Shares in ArcBest Corporation $ARCB Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd purchased a new stake in ArcBest Corporation (NASDAQ:ARCB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,817 shares of the transportation company’s stock, valued at approximately $3,970,000. WINTON GROUP Ltd owned about 0.25% of ArcBest as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its position in shares of ArcBest by 158.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock worth $37,740,000 after buying an additional 300,642 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of ArcBest in the 2nd quarter valued at $12,657,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in ArcBest by 215.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock worth $10,808,000 after acquiring an additional 104,643 shares in the last quarter. American Century Companies Inc. raised its stake in ArcBest by 9.6% during the 3rd quarter. American Century Companies Inc. now owns 817,091 shares of the transportation company’s stock worth $57,090,000 after acquiring an additional 71,420 shares in the last quarter. Finally, Impala Asset Management LLC purchased a new stake in ArcBest in the second quarter valued at $5,468,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analyst Ratings Changes

ARCB has been the subject of several research analyst reports. UBS Group restated a “neutral” rating and issued a $98.00 price objective on shares of ArcBest in a research note on Wednesday, February 4th. TD Cowen reiterated a “hold” rating on shares of ArcBest in a research report on Friday, January 9th. Jefferies Financial Group boosted their target price on ArcBest from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, February 2nd. JPMorgan Chase & Co. upped their target price on ArcBest from $76.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Finally, Zacks Research upgraded ArcBest from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $97.17.

ArcBest Trading Up 0.9%

NASDAQ ARCB opened at $94.14 on Tuesday. The firm’s fifty day moving average is $94.96 and its two-hundred day moving average is $79.64. ArcBest Corporation has a one year low of $55.19 and a one year high of $112.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $2.10 billion, a PE ratio of 36.07, a P/E/G ratio of 0.67 and a beta of 1.48.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, January 30th. The transportation company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.09). The business had revenue of $972.69 million for the quarter, compared to analyst estimates of $963.74 million. ArcBest had a return on equity of 6.51% and a net margin of 1.50%.ArcBest’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.33 EPS. Analysts expect that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. ArcBest’s dividend payout ratio (DPR) is currently 18.39%.

ArcBest Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.