Cibc World Markets Corp Invests $206,000 in ArcBest Co. (NASDAQ:ARCB)

Cibc World Markets Corp acquired a new stake in ArcBest Co. (NASDAQ:ARCB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,203 shares of the transportation company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also bought and sold shares of ARCB. Blue Trust Inc. lifted its position in shares of ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after buying an additional 177 shares during the last quarter. R Squared Ltd bought a new stake in ArcBest in the 4th quarter valued at about $40,000. Smartleaf Asset Management LLC lifted its holdings in ArcBest by 471.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 453 shares during the last quarter. Quest Partners LLC boosted its position in ArcBest by 60.6% during the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after purchasing an additional 206 shares during the period. Finally, KBC Group NV increased its stake in shares of ArcBest by 34.9% in the fourth quarter. KBC Group NV now owns 1,148 shares of the transportation company’s stock worth $107,000 after purchasing an additional 297 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

Insider Buying and Selling at ArcBest

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the transaction, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. This represents a 9.41 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.65% of the company’s stock.

ArcBest Price Performance

ARCB stock opened at $73.68 on Thursday. The firm has a 50 day simple moving average of $86.27 and a two-hundred day simple moving average of $98.27. The stock has a market cap of $1.71 billion, a PE ratio of 10.05, a P/E/G ratio of 1.70 and a beta of 1.54. ArcBest Co. has a one year low of $68.83 and a one year high of $153.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, January 31st. The transportation company reported $1.33 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. On average, analysts predict that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s dividend payout ratio is currently 6.55%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group cut their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Morgan Stanley reduced their price target on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Stephens reiterated an “overweight” rating and set a $116.00 price objective on shares of ArcBest in a research note on Tuesday, March 11th. Stifel Nicolaus raised their target price on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group decreased their price target on ArcBest from $126.00 to $108.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $108.33.

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.