BNP Paribas Financial Markets Grows Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

BNP Paribas Financial Markets grew its holdings in ArcBest Co. (NASDAQ:ARCB) by 29.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,521 shares of the transportation company’s stock after acquiring an additional 2,839 shares during the period. BNP Paribas Financial Markets’ holdings in ArcBest were worth $1,358,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Intech Investment Management LLC boosted its holdings in ArcBest by 92.3% during the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock worth $1,166,000 after buying an additional 5,161 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 buying an additional 21,905 shares in the last quarter. Partners Group Holding AG boosted its holdings in ArcBest by 51.5% during the third quarter. Partners Group Holding AG now owns 87,842 shares of the transportation company’s stock worth $9,526,000 after buying an additional 29,849 shares in the last quarter. Impala Asset Management LLC purchased a new stake in ArcBest during the second quarter worth $2,409,000. Finally, Point72 DIFC Ltd purchased a new stake in ArcBest during the second quarter worth $641,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Price Performance

Shares of ARCB opened at $107.26 on Monday. ArcBest Co. has a 1-year low of $94.76 and a 1-year high of $153.60. The stock has a market cap of $2.51 billion, a PE ratio of 13.24, a P/E/G ratio of 2.44 and a beta of 1.49. The firm has a 50-day simple moving average of $107.29 and a two-hundred day simple moving average of $108.15. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 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 analysts’ expectations of $1.07 billion. During the same period in the previous year, the business posted $2.31 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, analysts forecast that ArcBest Co. will post 6.07 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Wednesday, November 13th. ArcBest’s payout ratio is 5.93%.

Insider Buying and Selling

In related news, SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the transaction, the senior vice president now owns 5,051 shares in the company, valued at $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the sale, the director now directly 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. 1.65% of the stock is owned by insiders.

Analyst Ratings Changes

ARCB has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Stifel Nicolaus reduced their target price on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, October 21st. UBS Group reduced their target price on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. TD Cowen cut shares of ArcBest from a “buy” rating to a “hold” rating and reduced their target price for the company from $131.00 to $114.00 in a research report on Monday, October 14th. Finally, Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of ArcBest in a research report on Wednesday, September 4th. One investment 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. Based on data from MarketBeat, the company 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.