WINTON GROUP Ltd Invests $1.68 Million in ArcBest Corporation $ARCB

WINTON GROUP Ltd bought a new position in ArcBest Corporation (NASDAQ:ARCB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,700 shares of the transportation company’s stock, valued at approximately $1,679,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARCB. C M Bidwell & Associates Ltd. purchased a new stake in ArcBest during the second quarter valued at about $74,000. Nykredit A S purchased a new position in shares of ArcBest in the 2nd quarter worth about $75,000. Federated Hermes Inc. raised its holdings in shares of ArcBest by 126.6% in the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after purchasing an additional 567 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 934 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of ArcBest in the 2nd quarter valued at about $85,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Stock Performance

Shares of ARCB stock opened at $134.86 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The company’s fifty day moving average price is $143.30 and its two-hundred day moving average price is $128.22. The firm has a market capitalization of $3.01 billion, a P/E ratio of 195.45, a P/E/G ratio of 0.41 and a beta of 1.55. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $176.69.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.12. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm earned $1.36 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. On average, research analysts anticipate that ArcBest Corporation will post 6.95 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. ArcBest’s dividend payout ratio is currently 69.57%.

Wall Street Analysts Forecast Growth

ARCB has been the subject of a number of research analyst reports. Citigroup reissued a “market outperform” rating on shares of ArcBest in a research report on Wednesday, August 26th. JPMorgan Chase & Co. lifted their price target on shares of ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $172.00 price objective on shares of ArcBest in a research note on Wednesday, July 29th. Wells Fargo & Company increased their price objective on shares of ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, June 5th. Finally, Morgan Stanley raised their target price on shares of ArcBest from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.23.

Insider Transactions at ArcBest

In other ArcBest news, Director Judy R. Mcreynolds sold 2,857 shares of ArcBest stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $138.98, for a total transaction of $397,065.86. Following the sale, the director directly owned 50,048 shares in the company, valued at $6,955,671.04. The trade was a 5.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erin K. Gattis sold 6,163 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total value of $862,820.00. Following the completion of the transaction, the insider directly owned 24,286 shares in the company, valued at approximately $3,400,040. The trade was a 20.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,963 shares of company stock valued at $1,678,066 in the last three months. 0.98% of the stock is currently owned by company insiders.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a North American logistics company headquartered in Fort Smith, Arkansas. Through its subsidiaries and service offerings, the company provides freight transportation, supply chain management and logistics solutions for businesses of various sizes.

Its asset-based operations are primarily conducted through ABF Freight, a less-than-truckload carrier that transports palletized and other freight across the United States, Canada and Mexico. ABF Freight offers regional, interregional and long-haul services, as well as time-critical, expedited, guaranteed and specialized transportation solutions.

ArcBest also provides asset-light logistics services, including truckload, expedited, final-mile, intermodal, international and managed transportation solutions.