Handelsbanken Fonder AB Has $635,000 Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

Handelsbanken Fonder AB decreased its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 9.3% in the 4th quarter, HoldingsChannel reports. The firm owned 6,800 shares of the transportation company’s stock after selling 700 shares during the period. Handelsbanken Fonder AB’s holdings in ArcBest were worth $635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ARCB. Blue Trust Inc. increased its position in ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after buying an additional 177 shares during the period. R Squared Ltd bought a new position in ArcBest during the 4th quarter worth $40,000. Quest Partners LLC increased its position in ArcBest by 60.6% during the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after buying an additional 206 shares during the period. Avior Wealth Management LLC increased its position in ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after buying an additional 95 shares during the period. Finally, KBC Group NV increased its position in ArcBest by 36.8% during the 3rd quarter. KBC Group NV now owns 851 shares of the transportation company’s stock worth $92,000 after buying an additional 229 shares during the period. Institutional investors own 99.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company decreased their price target on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Morgan Stanley decreased their price target on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Stifel Nicolaus raised their price target on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Citigroup raised their price target on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $118.91.

ArcBest Stock Performance

ArcBest stock opened at $78.77 on Friday. ArcBest Co. has a 12-month low of $78.27 and a 12-month high of $153.60. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $93.92 and its two-hundred day moving average price is $102.37. The stock has a market cap of $1.84 billion, a PE ratio of 10.75, a P/E/G ratio of 1.70 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period in the previous year, the firm earned $2.47 EPS. As a group, analysts expect that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s payout ratio is 6.55%.

ArcBest 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.