Quantinno Capital Management LP Raises Holdings in ArcBest Corporation $ARCB

Quantinno Capital Management LP grew its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 101.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,827 shares of the transportation company’s stock after acquiring an additional 10,511 shares during the quarter. Quantinno Capital Management LP’s holdings in ArcBest were worth $2,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. grew its position in ArcBest by 126.6% during 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 last quarter. Hantz Financial Services Inc. raised its holdings in shares of ArcBest by 507.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after buying an additional 934 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of ArcBest in the second quarter worth $85,000. Assetmark Inc. lifted its stake in shares of ArcBest by 5,940.0% during the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock worth $90,000 after buying an additional 1,188 shares during the period. Finally, KBC Group NV grew its holdings in shares of ArcBest by 69.4% during the fourth quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock valued at $96,000 after buying an additional 532 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Performance

Shares of ARCB stock opened at $137.43 on Tuesday. The stock has a market cap of $3.07 billion, a PE ratio of 199.17, a price-to-earnings-growth ratio of 0.45 and a beta of 1.57. The business has a 50-day simple moving average of $149.62 and a 200-day simple moving average of $121.91. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. ArcBest Corporation has a 52-week low of $59.43 and a 52-week high of $176.69.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.26 by $0.12. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.ArcBest’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $1.36 earnings per share. On average, equities analysts expect that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be 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 of this dividend is Friday, August 7th. ArcBest’s payout ratio is 69.57%.

Insider Buying and Selling at ArcBest

In related news, Director Judy R. Mcreynolds sold 2,857 shares of the stock in a transaction on Friday, August 7th. The shares were 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 of the company’s stock, valued at approximately $6,955,671.04. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Erin K. Gattis sold 6,163 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total transaction of $862,820.00. Following the sale, the insider directly owned 24,286 shares in the company, valued at $3,400,040. This trade represents a 20.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,963 shares of company stock valued at $1,678,066. Company insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

ARCB has been the topic of several research reports. Citizens Jmp initiated coverage on ArcBest in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Bank of America increased their price objective on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Citigroup reduced their price objective on ArcBest from $178.00 to $171.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Finally, Stifel Nicolaus lifted their target price on ArcBest from $134.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, ArcBest currently has a consensus rating of “Moderate Buy” and an average price target of $154.23.

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.