Tidal Investments LLC Sells 763 Shares of ArcBest Co. (NASDAQ:ARCB)

Tidal Investments LLC lowered its position in ArcBest Co. (NASDAQ:ARCB) by 12.9% during the 3rd quarter, Holdings Channel reports. The firm owned 5,150 shares of the transportation company’s stock after selling 763 shares during the quarter. Tidal Investments LLC’s holdings in ArcBest were worth $559,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of ArcBest by 1.9% during the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after buying an additional 17,542 shares in the last quarter. Intech Investment Management LLC lifted its stake in ArcBest by 92.3% in the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock worth $1,166,000 after acquiring an additional 5,161 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ArcBest by 16.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock valued at $12,653,000 after purchasing an additional 16,103 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of ArcBest by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock valued at $44,927,000 after purchasing an additional 21,905 shares in the last quarter. Finally, Impala Asset Management LLC lifted its position in shares of ArcBest by 51.1% in the 3rd quarter. Impala Asset Management LLC now owns 34,000 shares of the transportation company’s stock worth $3,687,000 after purchasing an additional 11,500 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on ARCB shares. Jefferies Financial Group cut their price objective on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Morgan Stanley cut their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. 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 report on Monday, November 4th. Finally, Stifel Nicolaus cut their price objective on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $124.50.

Insider Transactions at ArcBest

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction 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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the sale, the director now owns 23,250 shares in the company, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.

ArcBest Stock Performance

Shares of ARCB opened at $94.13 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50-day moving average of $107.93 and a two-hundred day moving average of $108.28. The stock has a market cap of $2.20 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.56 and a beta of 1.49. ArcBest Co. has a one year low of $92.57 and a one year high of $153.60.

ArcBest (NASDAQ:ARCB) last released its earnings results 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $2.31 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, research analysts predict that ArcBest Co. will post 6.06 EPS for the current 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. The ex-dividend date was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.51%. ArcBest’s payout ratio is currently 5.93%.

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.