Natixis Advisors LLC Sells 538 Shares of ArcBest Co. (NASDAQ:ARCB)

Natixis Advisors LLC reduced its position in shares of ArcBest Co. (NASDAQ:ARCB) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,086 shares of the transportation company’s stock after selling 538 shares during the period. Natixis Advisors LLC owned approximately 0.06% of ArcBest worth $1,508,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in ArcBest by 49.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Contravisory Investment Management Inc. lifted its holdings in shares of ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after purchasing an additional 78 shares during the period. Innealta Capital LLC bought a new stake in shares of ArcBest in the second quarter worth $33,000. Cultivar Capital Inc. bought a new position in shares of ArcBest during the second quarter worth about $43,000. Finally, Parallel Advisors LLC lifted its stake in shares of ArcBest by 45.8% in the fourth quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after acquiring an additional 114 shares during the period. 99.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Stephens restated an “overweight” rating and set a $130.00 price objective on shares of ArcBest in a research note on Wednesday, September 4th. Bank of America decreased their price objective on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. Stifel Nicolaus dropped their target price on shares of ArcBest from $150.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, Morgan Stanley decreased 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, ArcBest has an average rating of “Moderate Buy” and a consensus price target of $133.18.

ArcBest Stock Performance

Shares of ARCB opened at $98.50 on Wednesday. ArcBest Co. has a 52-week low of $86.93 and a 52-week high of $153.60. The stock’s 50-day simple moving average is $110.43 and its 200 day simple moving average is $119.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.21 and a beta of 1.47.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. ArcBest’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.54 earnings per share. Research analysts forecast that ArcBest Co. will post 7.25 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, August 13th. ArcBest’s payout ratio is 9.66%.

Insider Buying and Selling

In other news, Director Salvatore A. Abbate bought 1,000 shares of ArcBest stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $103.93 per share, with a total value of $103,930.00. Following the completion of the purchase, the director now directly owns 3,650 shares in the company, valued at $379,344.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.65% of the stock is owned by company insiders.

About ArcBest

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.