ArcBest Co. (NASDAQ:ARCB) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC increased its position in shares of ArcBest Co. (NASDAQ:ARCB) by 5.3% during 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 15,792 shares of the transportation company’s stock after purchasing an additional 790 shares during the period. Inspire Investing LLC owned 0.07% of ArcBest worth $1,691,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. raised its stake in shares of 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 buying an additional 78 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after acquiring an additional 75 shares during the period. Innealta Capital LLC bought a new stake in ArcBest in the second quarter worth about $33,000. Quest Partners LLC acquired a new stake in ArcBest in the 2nd quarter valued at about $36,000. Finally, Parallel Advisors LLC boosted its position in shares of ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 114 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ARCB shares. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Monday, August 5th. TD Cowen decreased their price target on shares of ArcBest from $136.00 to $131.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of ArcBest in a research report on Wednesday, September 4th. Stifel Nicolaus decreased their target price on ArcBest from $150.00 to $131.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reduced their target price on ArcBest from $134.00 to $133.00 and set a “neutral” rating for the company in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.18.

ArcBest Stock Up 4.7 %

NASDAQ:ARCB opened at $115.83 on Friday. ArcBest Co. has a 1-year low of $86.93 and a 1-year high of $153.60. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 1.22 and a beta of 1.46. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average price is $109.95 and its 200 day moving average price is $118.02.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company earned $1.54 earnings per share. ArcBest’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that ArcBest Co. will post 7.21 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Tuesday, August 13th. ArcBest’s dividend payout ratio (DPR) is currently 9.66%.

Insider Activity

In other news, Director Salvatore A. Abbate acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the acquisition, the director now owns 3,650 shares in the company, valued at $379,344.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.65% of the stock is currently owned by corporate 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.