Vanguard Personalized Indexing Management LLC Has $204,000 Position in ArcBest Co. (NASDAQ:ARCB)

Vanguard Personalized Indexing Management LLC lowered its position in shares of ArcBest Co. (NASDAQ:ARCB) by 23.4% in the second quarter, HoldingsChannel reports. The fund owned 1,908 shares of the transportation company’s stock after selling 583 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in ArcBest were worth $204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Contravisory Investment Management Inc. raised its position 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 acquiring an additional 78 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of ArcBest by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock worth $1,264,000 after acquiring an additional 100 shares during the last quarter. Parallel Advisors LLC raised its position in shares of ArcBest by 45.8% during 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 last quarter. Nisa Investment Advisors LLC raised its position in shares of ArcBest by 4.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,101 shares of the transportation company’s stock worth $332,000 after acquiring an additional 125 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in shares of ArcBest by 6.5% during the second quarter. Johnson Investment Counsel Inc. now owns 2,095 shares of the transportation company’s stock worth $224,000 after acquiring an additional 128 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

ArcBest Stock Down 0.8 %

Shares of ArcBest stock opened at $108.45 on Tuesday. ArcBest Co. has a 1 year low of $86.93 and a 1 year high of $153.60. The business has a 50-day moving average of $108.88 and a two-hundred day moving average of $116.54. The company has a market capitalization of $2.54 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($0.05). ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company earned $1.54 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that ArcBest Co. will post 7.21 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. ArcBest’s dividend payout ratio (DPR) is currently 9.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARCB shares. Morgan Stanley dropped their target price on ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. Wells Fargo & Company downgraded ArcBest from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $122.00 to $112.00 in a report on Wednesday, September 4th. Stephens reiterated an “overweight” rating and issued a $130.00 price objective on shares of ArcBest in a report on Wednesday, September 4th. Bank of America dropped their price objective on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a report on Wednesday, September 4th. Finally, TD Cowen dropped their price objective on ArcBest from $136.00 to $131.00 and set a “buy” rating for the company in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, ArcBest currently has a consensus rating of “Hold” and a consensus price target of $133.18.

Insiders Place Their Bets

In other news, Director Salvatore A. Abbate acquired 1,000 shares of ArcBest stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $103.93 per share, with a total value of $103,930.00. Following the completion of the transaction, the director now directly owns 3,650 shares of the company’s stock, valued at $379,344.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.65% of the company’s stock.

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.