First Heartland Consultants Inc. increased its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 38.5% during the third quarter, Holdings Channel reports. The institutional investor owned 46,400 shares of the company’s stock after buying an additional 12,900 shares during the period. First Heartland Consultants Inc. owned about 0.18% of ArcBest Corporation worth $883,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Kernodle & Katon Asset Management Group LLC boosted its stake in ArcBest Corporation by 1,547.7% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 45,922 shares of the company’s stock valued at $874,000 after buying an additional 43,135 shares in the last quarter. SG Capital Management LLC bought a new stake in ArcBest Corporation during the third quarter valued at approximately $1,893,000. SECOR Capital Advisors LP boosted its stake in ArcBest Corporation by 93.8% in the third quarter. SECOR Capital Advisors LP now owns 47,201 shares of the company’s stock valued at $898,000 after buying an additional 22,844 shares in the last quarter. Towle & Co. boosted its stake in ArcBest Corporation by 1.3% in the third quarter. Towle & Co. now owns 788,186 shares of the company’s stock valued at $14,991,000 after buying an additional 9,860 shares in the last quarter. Finally, Matarin Capital Management LLC bought a new stake in ArcBest Corporation during the third quarter valued at approximately $4,986,000. 88.83% of the stock is owned by hedge funds and other institutional investors.
ArcBest Corporation (NASDAQ:ARCB) traded down 1.27% on Monday, hitting $31.15. The stock had a trading volume of 61,944 shares. The firm has a market cap of $797.72 million, a price-to-earnings ratio of 44.18 and a beta of 1.72. ArcBest Corporation has a one year low of $14.85 and a one year high of $33.95. The company’s 50-day moving average price is $30.31 and its 200 day moving average price is $24.17.
ArcBest Corporation (NASDAQ:ARCB) last posted its quarterly earnings data on Wednesday, February 8th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. ArcBest Corporation had a net margin of 0.69% and a return on equity of 4.15%. The business had revenue of $688.20 million for the quarter, compared to analyst estimates of $680.75 million. During the same quarter last year, the business earned $0.21 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts expect that ArcBest Corporation will post $1.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, February 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. ArcBest Corporation’s dividend payout ratio is presently 45.71%.
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Several research firms have issued reports on ARCB. TheStreet cut ArcBest Corporation from a “b-” rating to a “c+” rating in a research note on Wednesday, February 8th. Cowen and Company raised their target price on ArcBest Corporation from $25.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday. Seaport Global Securities reissued a “neutral” rating on shares of ArcBest Corporation in a research note on Friday, December 16th. Zacks Investment Research cut ArcBest Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 11th. Finally, Bank of America Corporation raised ArcBest Corporation from an “underperform” rating to a “neutral” rating in a research note on Friday, November 4th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. ArcBest Corporation currently has an average rating of “Hold” and an average price target of $24.83.
In related news, VP Daniel E. Loe sold 5,394 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $31.13, for a total transaction of $167,915.22. Following the transaction, the vice president now owns 37,264 shares in the company, valued at $1,160,028.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Walter J. Echols sold 9,664 shares of the firm’s stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $33.19, for a total transaction of $320,748.16. Following the transaction, the vice president now owns 39,300 shares in the company, valued at approximately $1,304,367. The disclosure for this sale can be found here. Insiders have sold 26,458 shares of company stock worth $845,141 in the last quarter. Company insiders own 6.01% of the company’s stock.
About ArcBest Corporation
ArcBest Corporation is a holding company of businesses providing freight transportation services and logistics solutions. The Company operates through five segments: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving).
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