Barclays PLC Buys 33,386 Shares of ArcBest Co. (NASDAQ:ARCB)

Barclays PLC grew its position in shares of ArcBest Co. (NASDAQ:ARCB) by 342.5% in the 3rd quarter, Holdings Channel reports. The firm owned 43,134 shares of the transportation company’s stock after acquiring an additional 33,386 shares during the quarter. Barclays PLC’s holdings in ArcBest were worth $4,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Westwood Holdings Group Inc. increased its position 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 worth $62,509,000 after buying an additional 150,467 shares during the period. Marshall Wace LLP boosted its position in ArcBest by 158.7% during the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock valued at $20,558,000 after acquiring an additional 117,774 shares during the last quarter. Emerald Advisers LLC acquired a new stake in ArcBest during the 2nd quarter worth about $6,812,000. Mutual of America Capital Management LLC raised its position in shares of ArcBest by 1,455.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 63,399 shares of the transportation company’s stock worth $6,789,000 after acquiring an additional 59,322 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of ArcBest in the 2nd quarter worth about $5,630,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ARCB shares. Morgan Stanley decreased their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. Stephens reiterated an “overweight” rating and set a $130.00 target price on shares of ArcBest in a research report on Wednesday, September 4th. UBS Group cut their target price on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price target on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $124.50.

ArcBest Trading Down 3.5 %

NASDAQ:ARCB opened at $94.13 on Friday. ArcBest Co. has a one year low of $92.57 and a one year high of $153.60. The company has a market cap of $2.20 billion, a PE ratio of 11.62, a PEG ratio of 2.56 and a beta of 1.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a 50-day moving average of $107.93 and a 200-day moving average of $108.25.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities research analysts expect that ArcBest Co. will post 6.06 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

Insiders Place Their Bets

In related 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 directly owns 5,051 shares in the company, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig E. Philip sold 3,900 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, the director now owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. This trade represents a 14.36 % decrease in their position. The disclosure for this sale can be found here. 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.