Susquehanna Fundamental Investments LLC Has $4.96 Million Stock Holdings in ArcBest Corporation $ARCB

Susquehanna Fundamental Investments LLC raised its holdings in ArcBest Corporation (NASDAQ:ARCB) by 85.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,527 shares of the transportation company’s stock after buying an additional 15,862 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.15% of ArcBest worth $4,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ARCB. C M Bidwell & Associates Ltd. bought a new stake in shares of ArcBest during the second quarter worth about $74,000. Federated Hermes Inc. lifted its position in ArcBest by 126.6% in the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after acquiring an additional 567 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in ArcBest by 507.6% during 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 during the last quarter. Canada Pension Plan Investment Board acquired a new position in ArcBest during the 2nd quarter valued at about $85,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in ArcBest during the 2nd quarter worth approximately $92,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Erin K. Gattis sold 6,163 shares of ArcBest 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. The trade was a 20.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Judy R. Mcreynolds sold 2,857 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $138.98, for a total transaction of $397,065.86. Following the completion of the transaction, the director directly owned 50,048 shares in the company, valued at $6,955,671.04. This trade represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,963 shares of company stock valued at $1,678,066 in the last 90 days. Corporate insiders own 0.98% of the company’s stock.

ArcBest Price Performance

ArcBest stock opened at $137.97 on Tuesday. ArcBest Corporation has a 52 week low of $59.43 and a 52 week high of $176.69. The company’s 50 day moving average price is $144.57 and its two-hundred day moving average price is $126.34. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.08 billion, a P/E ratio of 199.96, a P/E/G ratio of 0.45 and a beta of 1.57.

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

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.48 annualized dividend and a yield of 0.3%. ArcBest’s payout ratio is currently 69.57%.

Analysts Set New Price Targets

Several analysts have recently commented on ARCB shares. Bank of America increased their price objective on ArcBest from $138.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Citizens Jmp assumed coverage on ArcBest in a report on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 price target for the company. Morgan Stanley increased their price target on ArcBest from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Wells Fargo & Company raised their price objective on ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, June 5th. Finally, Wall Street Zen raised shares of ArcBest from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, ArcBest presently has an average rating of “Moderate Buy” and an average price target of $154.23.

ArcBest Company Profile

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.