Royce & Associates LP Sells 18,323 Shares of ArcBest Corporation $ARCB

Royce & Associates LP trimmed its holdings in ArcBest Corporation (NASDAQ:ARCB) by 15.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,817 shares of the transportation company’s stock after selling 18,323 shares during the quarter. Royce & Associates LP’s holdings in ArcBest were worth $6,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in ARCB. Ameriprise Financial Inc. lifted its stake in ArcBest by 158.7% in the second quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock valued at $37,740,000 after buying an additional 300,642 shares during the period. Encompass Capital Advisors LLC acquired a new stake in shares of ArcBest during the 2nd quarter worth approximately $12,657,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of ArcBest by 215.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock valued at $10,808,000 after acquiring an additional 104,643 shares in the last quarter. American Century Companies Inc. increased its stake in shares of ArcBest by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 817,091 shares of the transportation company’s stock valued at $57,090,000 after acquiring an additional 71,420 shares in the last quarter. Finally, Impala Asset Management LLC acquired a new position in shares of ArcBest during the 2nd quarter valued at $5,468,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Price Performance

ARCB stock opened at $104.96 on Thursday. The company has a market capitalization of $2.34 billion, a P/E ratio of 40.21, a price-to-earnings-growth ratio of 0.75 and a beta of 1.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. ArcBest Corporation has a 52-week low of $55.19 and a 52-week high of $112.92. The business has a 50-day simple moving average of $93.83 and a two-hundred day simple moving average of $79.09.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, January 30th. The transportation company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.09). ArcBest had a return on equity of 6.51% and a net margin of 1.50%.During the same period in the previous year, the company earned $1.33 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Research analysts expect that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 10th. This represents a $0.48 annualized dividend and a yield of 0.5%. ArcBest’s dividend payout ratio (DPR) is 18.39%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a report on Wednesday, January 21st. Jefferies Financial Group raised their target price on ArcBest from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Bank of America upped their price target on ArcBest from $72.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $100.00 price objective on shares of ArcBest in a research note on Saturday, January 31st. Finally, Citigroup boosted their price objective on ArcBest from $104.00 to $105.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, ArcBest has a consensus rating of “Hold” and a consensus price target of $97.00.

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.