Rockefeller Capital Management L.P. Sells 134,688 Shares of ArcBest Corporation $ARCB

Rockefeller Capital Management L.P. decreased its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 44.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 171,534 shares of the transportation company’s stock after selling 134,688 shares during the period. Rockefeller Capital Management L.P.’s holdings in ArcBest were worth $12,726,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Federation des caisses Desjardins du Quebec boosted its stake in ArcBest by 0.4% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock worth $1,706,000 after acquiring an additional 100 shares in the last quarter. Seelaus Asset Management LLC increased its stake in ArcBest by 3.5% in the fourth quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 125 shares in the last quarter. ProShare Advisors LLC increased its stake in ArcBest by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock valued at $329,000 after purchasing an additional 135 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of ArcBest by 2.2% during the fourth quarter. Stephens Inc. AR now owns 6,909 shares of the transportation company’s stock valued at $535,000 after purchasing an additional 150 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of ArcBest by 3.4% during the fourth quarter. LPL Financial LLC now owns 6,345 shares of the transportation company’s stock valued at $471,000 after purchasing an additional 210 shares during the period. Institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

Shares of NASDAQ ARCB opened at $145.18 on Thursday. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 59.75, a PEG ratio of 0.65 and a beta of 1.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $176.69. The firm’s 50-day simple moving average is $133.37 and its 200 day simple moving average is $106.37.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 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 firm had revenue of $998.79 million during the quarter, compared to the consensus estimate of $999.07 million. During the same period in the prior year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that ArcBest Corporation will post 5.87 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, May 8th. ArcBest’s dividend payout ratio is presently 19.75%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ARCB. Zacks Research upgraded ArcBest from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Truist Financial upped their price target on ArcBest from $95.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings lowered ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 28th. Stifel Nicolaus raised their price objective on ArcBest from $116.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Citigroup boosted their price objective on ArcBest from $150.00 to $202.00 and gave the company a “buy” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.42.

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.