Linden Thomas Advisory Services LLC Increases Position in ArcBest Co. (NASDAQ:ARCB)

Linden Thomas Advisory Services LLC boosted its holdings in ArcBest Co. (NASDAQ:ARCB) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,956 shares of the transportation company’s stock after purchasing an additional 672 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in ArcBest were worth $2,038,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allworth Financial LP lifted its stake in shares of ArcBest by 15,450.0% in the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after buying an additional 309 shares in the last quarter. SG Americas Securities LLC bought a new position in ArcBest during the third quarter valued at approximately $141,000. Evergreen Capital Management LLC bought a new position in ArcBest in the third quarter worth approximately $203,000. First Heartland Consultants Inc. bought a new position in ArcBest in the third quarter worth approximately $204,000. Finally, Greenleaf Trust bought a new position in ArcBest in the fourth quarter worth approximately $212,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Trading Up 4.1 %

Shares of NASDAQ:ARCB traded up $5.78 during trading on Tuesday, reaching $145.31. The stock had a trading volume of 134,465 shares, compared to its average volume of 301,429. ArcBest Co. has a fifty-two week low of $82.18 and a fifty-two week high of $153.60. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average price of $140.38 and a 200-day moving average price of $124.39. The stock has a market cap of $3.41 billion, a P/E ratio of 17.64, a PEG ratio of 0.59 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period last year, the business earned $2.45 EPS. As a group, analysts anticipate that ArcBest Co. will post 10.05 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.33%. The ex-dividend date was Thursday, February 15th. ArcBest’s dividend payout ratio is currently 6.07%.

Insiders Place Their Bets

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now directly owns 32,247 shares of the company’s stock, valued at approximately $4,565,530.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ARCB shares. Stephens increased their price objective on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Morgan Stanley raised their target price on shares of ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. UBS Group boosted their target price on ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. decreased their price target on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Finally, Bank of America lifted their price target on shares of ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.54.

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.