4,719 Shares in ArcBest Corporation $ARCB Acquired by Empirical Asset Management LLC

Empirical Asset Management LLC purchased a new stake in shares of ArcBest Corporation (NASDAQ:ARCB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,719 shares of the transportation company’s stock, valued at approximately $677,000.

Several other institutional investors have also recently bought and sold shares of ARCB. Glenmede Trust Co. NA grew its holdings in shares of ArcBest by 1.5% during the first quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock worth $606,000 after purchasing an additional 93 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of ArcBest by 0.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock valued at $1,706,000 after buying an additional 100 shares during the last quarter. Seelaus Asset Management LLC lifted its position in ArcBest by 3.5% during the 4th quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock worth $275,000 after buying an additional 125 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in ArcBest by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock worth $175,000 after buying an additional 134 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in ArcBest by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock worth $329,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ARCB. Morgan Stanley boosted their target price on shares of ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. UBS Group increased their price target on shares of ArcBest from $145.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Truist Financial raised their price target on shares of ArcBest from $145.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Stephens upgraded shares of ArcBest to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. upped their price objective on ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, ArcBest currently has an average rating of “Moderate Buy” and a consensus price target of $154.23.

ArcBest Stock Performance

ARCB stock opened at $138.81 on Wednesday. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $176.69. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.10 billion, a P/E ratio of 201.17, a price-to-earnings-growth ratio of 0.47 and a beta of 1.57. The business’s fifty day moving average is $148.14 and its 200-day moving average is $124.14.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.12. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 earnings per share. Equities research analysts forecast that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 7th. ArcBest’s payout ratio is presently 69.57%.

Insider Activity

In other news, insider Erin K. Gattis sold 6,163 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total value of $862,820.00. Following the completion of the sale, the insider directly owned 24,286 shares of the company’s stock, valued at $3,400,040. This represents a 20.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Judy R. Mcreynolds sold 2,857 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $138.98, for a total transaction of $397,065.86. Following the completion of the sale, the director directly owned 50,048 shares of the company’s stock, valued at $6,955,671.04. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,963 shares of company stock valued at $1,678,066 over the last 90 days. Corporate insiders own 0.98% of the company’s stock.

About ArcBest

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.