Eagle Global Advisors LLC decreased its position in shares of Arc Logistic Partners LP (NYSE:ARCX) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 351,357 shares of the company’s stock after selling 2,000 shares during the period. Eagle Global Advisors LLC owned approximately 1.82% of Arc Logistic Partners worth $5,288,000 at the end of the most recent reporting period.
Separately, Cohen & Steers Inc. boosted its position in Arc Logistic Partners by 326.1% in the second quarter. Cohen & Steers Inc. now owns 642,090 shares of the company’s stock worth $17,336,000 after buying an additional 491,397 shares in the last quarter. 44.46% of the stock is owned by institutional investors.
Shares of Arc Logistic Partners LP (NYSE:ARCX) opened at 15.85 on Friday. Arc Logistic Partners LP has a 12 month low of $9.50 and a 12 month high of $17.40. The firm has a market cap of $305.94 million, a price-to-earnings ratio of 23.62 and a beta of 0.88. The stock has a 50 day moving average of $16.14 and a 200 day moving average of $15.23.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 8th will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, February 6th. This represents a $1.76 annualized dividend and a yield of 11.10%. Arc Logistic Partners’s dividend payout ratio (DPR) is 258.82%.
A number of analysts have recently weighed in on ARCX shares. TheStreet upgraded shares of Arc Logistic Partners from a “sell” rating to a “hold” rating in a research note on Monday, November 7th. Citigroup Inc. lowered shares of Arc Logistic Partners from a “buy” rating to a “neutral” rating in a research note on Thursday, December 8th. Stifel Nicolaus upgraded shares of Arc Logistic Partners from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Monday, November 7th. They noted that the move was a valuation call. Finally, DA Davidson reiterated a “buy” rating and issued a $22.00 price objective on shares of Arc Logistic Partners in a research note on Tuesday, November 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $16.50.
In other Arc Logistic Partners news, major shareholder Lightfoot Capital Partners, Lp purchased 27,894 shares of Arc Logistic Partners stock in a transaction that occurred on Wednesday, December 28th. The stock was purchased at an average price of $14.50 per share, for a total transaction of $404,463.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider United Energy Trading, Llc sold 1,035,000 shares of the company’s stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $15.93, for a total transaction of $16,487,550.00. Following the completion of the sale, the insider now owns 659,247 shares of the company’s stock, valued at approximately $10,501,804.71. The disclosure for this sale can be found here.
Arc Logistic Partners Company Profile
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of complementary energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. It is focused on growing its business through the optimization, organic development and acquisition of terminaling, storage, rail, pipeline and other energy logistics assets.
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