Chesapeake Capital Corp IL Sells 869 Shares of ArcBest Co. (NASDAQ:ARCB)

Chesapeake Capital Corp IL decreased its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 20.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,337 shares of the transportation company’s stock after selling 869 shares during the period. Chesapeake Capital Corp IL’s holdings in ArcBest were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of ArcBest by 49.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Contravisory Investment Management Inc. lifted its stake in ArcBest by 70.9% in the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after purchasing an additional 78 shares in the last quarter. GAMMA Investing LLC purchased a new stake in ArcBest in the 4th quarter worth $39,000. Parallel Advisors LLC increased its holdings in shares of ArcBest by 45.8% in the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after buying an additional 114 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of ArcBest by 51.9% in the 4th quarter. Quadrant Capital Group LLC now owns 597 shares of the transportation company’s stock worth $72,000 after buying an additional 204 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

Shares of ARCB traded up $0.86 during trading hours on Friday, reaching $119.48. The company had a trading volume of 164,626 shares, compared to its average volume of 275,567. The firm has a 50 day simple moving average of $109.20 and a 200-day simple moving average of $124.22. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 0.96 and a beta of 1.48. ArcBest Co. has a 12-month low of $86.93 and a 12-month high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business earned $1.58 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts expect that ArcBest Co. will post 8.3 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.40%. ArcBest’s dividend payout ratio (DPR) is currently 9.66%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ARCB. StockNews.com downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Bank of America lowered their target price on shares of ArcBest from $143.00 to $110.00 and set an “underperform” rating for the company in a research note on Wednesday, May 1st. UBS Group cut their price objective on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Morgan Stanley cut their price objective on shares of ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Monday, July 8th. Finally, The Goldman Sachs Group boosted their target price on shares of ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $143.69.

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.