DekaBank Deutsche Girozentrale Cuts Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

DekaBank Deutsche Girozentrale decreased its holdings in ArcBest Co. (NASDAQ:ARCB) by 54.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,604 shares of the transportation company’s stock after selling 1,950 shares during the period. DekaBank Deutsche Girozentrale’s holdings in ArcBest were worth $175,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ARCB. Quarry LP lifted its holdings in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. Innealta Capital LLC acquired a new position in ArcBest in the 2nd quarter worth about $33,000. Quest Partners LLC purchased a new position in ArcBest during the second quarter worth approximately $36,000. Cultivar Capital Inc. acquired a new stake in ArcBest in the second quarter valued at approximately $43,000. Finally, Mather Group LLC. purchased a new stake in shares of ArcBest in the second quarter valued at approximately $46,000. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Stock Performance

Shares of ArcBest stock opened at $100.02 on Monday. 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 business’s 50 day moving average price is $104.68 and its 200 day moving average price is $109.94. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.36 and a beta of 1.47. ArcBest Co. has a one year low of $94.76 and a one year high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm posted $2.31 EPS. The company’s revenue was down 5.8% compared to the same quarter last year. On average, research analysts predict that ArcBest Co. will post 6.89 EPS for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.48%. ArcBest’s dividend payout ratio is currently 9.07%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ARCB shares. Morgan Stanley decreased their target price on ArcBest from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Monday, July 8th. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Citigroup assumed coverage on shares of ArcBest in a research note on Wednesday, October 9th. They set a “neutral” rating and a $111.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $130.00 price target on shares of ArcBest in a research note on Wednesday, September 4th. Finally, Wolfe Research lowered ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, ArcBest has a consensus rating of “Hold” and an average price target of $126.92.

Insider Activity

In other ArcBest news, Director Salvatore A. Abbate acquired 1,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the transaction, the director now owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.