ArcBest Corporation (ARCB) Shares Bought by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can grew its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 6.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 33,798 shares of the transportation company’s stock after acquiring an additional 1,900 shares during the period. Great West Life Assurance Co. Can owned about 0.13% of ArcBest Corporation worth $695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan increased its stake in shares of ArcBest Corporation by 1,508.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 87,350 shares of the transportation company’s stock worth $1,799,000 after acquiring an additional 81,920 shares during the last quarter. First Heartland Consultants Inc. increased its stake in shares of ArcBest Corporation by 28.8% in the second quarter. First Heartland Consultants Inc. now owns 42,000 shares of the transportation company’s stock worth $865,000 after acquiring an additional 9,400 shares during the last quarter. Strs Ohio increased its stake in shares of ArcBest Corporation by 26.8% in the second quarter. Strs Ohio now owns 36,400 shares of the transportation company’s stock worth $749,000 after acquiring an additional 7,700 shares during the last quarter. Aperio Group LLC increased its stake in shares of ArcBest Corporation by 28.9% in the second quarter. Aperio Group LLC now owns 29,442 shares of the transportation company’s stock worth $607,000 after acquiring an additional 6,608 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of ArcBest Corporation by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock worth $202,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 85.83% of the company’s stock.

Shares of ArcBest Corporation (NASDAQ ARCB) opened at 28.10 on Friday. The firm has a market cap of $722.34 million, a price-to-earnings ratio of 32.49 and a beta of 1.70. ArcBest Corporation has a one year low of $16.95 and a one year high of $33.95. The company has a 50 day moving average of $27.14 and a 200-day moving average of $24.08.

ArcBest Corporation (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, July 28th. The transportation company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. ArcBest Corporation had a net margin of 0.83% and a return on equity of 4.92%. The firm had revenue of $720.40 million for the quarter, compared to analysts’ expectations of $721.11 million. During the same quarter in the prior year, the business earned $0.38 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts expect that ArcBest Corporation will post $1.31 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, August 4th. ArcBest Corporation’s dividend payout ratio is 37.21%.

Several research firms have commented on ARCB. Stifel Nicolaus reaffirmed a “hold” rating on shares of ArcBest Corporation in a research report on Thursday, August 3rd. Deutsche Bank AG reiterated a “hold” rating and issued a $29.00 target price (up previously from $26.00) on shares of ArcBest Corporation in a research note on Wednesday, August 9th. TheStreet upgraded shares of ArcBest Corporation from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Buckingham Research initiated coverage on shares of ArcBest Corporation in a research note on Monday, August 21st. They issued a “neutral” rating and a $29.00 target price for the company. Finally, Cowen and Company reiterated a “buy” rating and issued a $29.00 target price on shares of ArcBest Corporation in a research note on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $30.00.

In related news, VP Michael R. Johns sold 6,593 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $29.98, for a total value of $197,658.14. Following the completion of the sale, the vice president now directly owns 35,700 shares of the company’s stock, valued at approximately $1,070,286. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel E. Loe sold 9,929 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $25.87, for a total transaction of $256,863.23. Following the sale, the insider now directly owns 33,600 shares of the company’s stock, valued at $869,232. The disclosure for this sale can be found here. Insiders sold a total of 24,210 shares of company stock valued at $665,376 over the last three months. 0.97% of the stock is currently owned by insiders.

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About ArcBest Corporation

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

Institutional Ownership by Quarter for ArcBest Corporation (NASDAQ:ARCB)

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