ArcBest Corporation $ARCB Stock Position Decreased by WINTON GROUP Ltd

WINTON GROUP Ltd cut its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 37.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,790 shares of the transportation company’s stock after selling 21,027 shares during the quarter. WINTON GROUP Ltd owned 0.16% of ArcBest worth $2,655,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ARCB. Turtle Creek Asset Management Inc. bought a new stake in shares of ArcBest during the 3rd quarter worth $39,508,000. Principal Financial Group Inc. boosted its stake in shares of ArcBest by 349.9% during the 4th quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock worth $36,634,000 after acquiring an additional 384,024 shares in the last quarter. Ameriprise Financial Inc. boosted its stake 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 acquiring an additional 300,642 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of ArcBest by 145.9% during the 3rd quarter. Two Sigma Investments LP now owns 281,803 shares of the transportation company’s stock worth $19,690,000 after acquiring an additional 167,200 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of ArcBest by 319.3% during the 4th quarter. UBS Group AG now owns 208,007 shares of the transportation company’s stock worth $15,432,000 after acquiring an additional 158,403 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

ArcBest Stock Performance

Shares of ArcBest stock opened at $155.09 on Monday. The stock has a market cap of $3.45 billion, a PE ratio of 63.82, a price-to-earnings-growth ratio of 0.84 and a beta of 1.55. The business has a fifty day simple moving average of $118.94 and a 200-day simple moving average of $97.85. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $155.68.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The business had revenue of $998.79 million during the quarter, compared to analyst estimates of $999.07 million. During the same period last year, the company earned $0.51 earnings per share. ArcBest’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that ArcBest Corporation will post 5.29 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, May 8th. ArcBest’s dividend payout ratio (DPR) is currently 19.75%.

Wall Street Analyst Weigh In

Several analysts have recently commented on ARCB shares. Weiss Ratings cut ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 28th. Wells Fargo & Company raised their target price on ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday. Bank of America raised their target price on ArcBest from $138.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday. Wall Street Zen raised ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, TD Cowen raised their target price on ArcBest from $97.00 to $137.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ArcBest currently has a consensus rating of “Moderate Buy” and an average price target of $131.42.

About ArcBest

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.