ArcBest Co. (NASDAQ:ARCB) Shares Bought by Glenmede Trust Co. NA

Glenmede Trust Co. NA grew its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 25.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,611 shares of the transportation company’s stock after acquiring an additional 1,144 shares during the period. Glenmede Trust Co. NA’s holdings in ArcBest were worth $609,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Westwood Holdings Group Inc. grew its stake in shares of ArcBest by 34.7% during the second quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after acquiring an additional 150,467 shares in the last quarter. American Century Companies Inc. lifted its position in shares of ArcBest by 4.0% during the second quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock worth $56,267,000 after purchasing an additional 20,115 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ArcBest by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock worth $44,927,000 after purchasing an additional 21,905 shares during the last quarter. Marshall Wace LLP lifted its position in shares of ArcBest by 158.7% during the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock worth $20,558,000 after purchasing an additional 117,774 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of ArcBest by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock worth $16,141,000 after purchasing an additional 1,214 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the transaction, the senior vice president now owns 5,051 shares in the company, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the transaction, the director now owns 23,250 shares in the company, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

ArcBest Trading Down 2.1 %

ArcBest stock opened at $108.83 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 2.08 and a beta of 1.49. ArcBest Co. has a 1 year low of $94.76 and a 1 year high of $153.60. The firm’s 50 day moving average price is $107.41 and its two-hundred day moving average price is $108.19.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The business had revenue of $1.06 billion during 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 firm’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, research analysts predict that ArcBest Co. will post 6.19 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Wednesday, November 13th. ArcBest’s payout ratio is presently 5.93%.

Analysts Set New Price Targets

Several equities analysts have recently commented on ARCB shares. Wells Fargo & Company reduced their price target on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group lowered their price objective on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley lowered their price objective on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Wolfe Research lowered shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and a consensus price target of $124.50.

ArcBest Company Profile

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.