ArcBest Corporation (NASDAQ:ARCB) Shareholders Set to Receive $0.12 Quarterly Dividend

ArcBest Corporation (NASDAQ:ARCB) announced a quarterly dividend on Friday, October 30th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.12 per share by the transportation company on Friday, November 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, November 13th.

ArcBest has increased its dividend payment by an average of 0.1% per year over the last three years. ArcBest has a dividend payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ArcBest to earn $9.83 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 4.9%.

ArcBest Trading Up 1.0%

Shares of ARCB opened at $133.85 on Wednesday. The firm’s 50-day moving average price is $131.02 and its 200-day moving average price is $125.77. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 105.39, a PEG ratio of 0.37 and a beta of 1.71. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. ArcBest has a 1-year low of $59.43 and a 1-year high of $176.69.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Wednesday, November 4th. The transportation company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.12. ArcBest had a net margin of 0.66% and a return on equity of 9.93%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. ArcBest’s revenue was up 15.5% on a year-over-year basis. Sell-side analysts anticipate that ArcBest will post 7.42 EPS for the current year.

Insider Activity

In related news, VP Jason Parks sold 855 shares of ArcBest stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $135.09, for a total transaction of $115,501.95. Following the completion of the transaction, the vice president directly owned 3,794 shares of the company’s stock, valued at $512,531.46. This trade represents a 18.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ralph Edward Sorg sold 6,000 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $131.28, for a total transaction of $787,680.00. Following the sale, the insider directly owned 16,624 shares in the company, valued at $2,182,398.72. The trade was a 26.52% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On ArcBest

Large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in ArcBest in the second quarter worth $503,476,000. Dimensional Fund Advisors LP lifted its stake in shares of ArcBest by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,397,287 shares of the transportation company’s stock worth $137,429,000 after buying an additional 47,848 shares in the last quarter. Maple Rock Capital Partners Inc. grew its holdings in shares of ArcBest by 32.5% during the second quarter. Maple Rock Capital Partners Inc. now owns 535,746 shares of the transportation company’s stock valued at $76,901,000 after buying an additional 131,400 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of ArcBest during the second quarter valued at approximately $27,281,000. Finally, Empowered Funds LLC increased its position in shares of ArcBest by 37.7% during the first quarter. Empowered Funds LLC now owns 158,742 shares of the transportation company’s stock valued at $15,614,000 after acquiring an additional 43,429 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

About ArcBest

ArcBest Corporation is a transportation and logistics company headquartered in Fort Smith, Arkansas. Its services include less-than-truckload freight through ABF Freight, as well as truckload, expedited transportation, freight brokerage, managed transportation and other supply chain solutions. The company serves businesses across North America and supports shipments to and from international markets through its transportation and logistics network. ArcBest traces its roots to 1923, when its predecessor began providing freight transportation services in Arkansas.