Empowered Funds LLC Buys 173 Shares of ArcBest Co. (NASDAQ:ARCB)

Empowered Funds LLC boosted its stake in ArcBest Co. (NASDAQ:ARCB) by 4.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,695 shares of the transportation company’s stock after purchasing an additional 173 shares during the quarter. Empowered Funds LLC’s holdings in ArcBest were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in ArcBest by 54.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,660 shares of the transportation company’s stock valued at $2,945,000 after acquiring an additional 7,291 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in shares of ArcBest by 235.3% during the 1st quarter. Kennedy Capital Management LLC now owns 33,482 shares of the transportation company’s stock valued at $4,771,000 after purchasing an additional 23,497 shares during the last quarter. Impala Asset Management LLC purchased a new position in ArcBest in the 2nd quarter worth $2,409,000. Point72 DIFC Ltd bought a new stake in ArcBest in the second quarter worth $641,000. Finally, Semanteon Capital Management LP purchased a new stake in ArcBest during the third quarter valued at about $1,178,000. 99.27% of the stock is currently owned by institutional investors.

ArcBest Price Performance

ArcBest stock opened at $109.91 on Monday. ArcBest Co. has a 52-week low of $94.76 and a 52-week high of $153.60. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 2.04 and a beta of 1.47. The firm’s fifty day moving average is $107.14 and its 200 day moving average is $108.43. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share 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 company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company posted $2.31 EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. Sell-side analysts forecast that ArcBest Co. will post 6.19 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Wednesday, November 13th. ArcBest’s payout ratio is presently 5.93%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ARCB shares. Morgan Stanley dropped their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Stifel Nicolaus dropped their price objective on ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, October 21st. UBS Group decreased 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. The Goldman Sachs Group dropped their price target 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. Finally, Stephens restated an “overweight” rating and issued a $130.00 price objective 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $124.50.

Insider Buying and Selling

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the firm’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 of the company’s stock, valued at approximately $609,150.60. This trade represents a 67.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.65% of the stock is currently owned by insiders.

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.