Segall Bryant & Hamill LLC Sells 2,992 Shares of ArcBest Co. (NASDAQ:ARCB)

Segall Bryant & Hamill LLC lessened its position in ArcBest Co. (NASDAQ:ARCB) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 269,329 shares of the transportation company’s stock after selling 2,992 shares during the period. Segall Bryant & Hamill LLC owned about 1.15% of ArcBest worth $29,209,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ARCB. Quarry LP increased its holdings in shares of ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after buying an additional 134 shares in the last quarter. Innealta Capital LLC bought a new position in ArcBest in the 2nd quarter valued at $33,000. Quest Partners LLC acquired a new position in ArcBest in the second quarter worth $36,000. Cultivar Capital Inc. bought a new stake in shares of ArcBest during the second quarter worth $43,000. Finally, Mather Group LLC. acquired a new stake in shares of ArcBest in the second quarter valued at $46,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analysts Set New Price Targets

ARCB has been the topic of a number of research reports. Stifel Nicolaus reduced their target price on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley lowered their target price on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, November 4th. UBS Group cut their price target on ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company reduced their price target on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $124.50.

Insiders Place Their Bets

In related news, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total value of $1,259,425.80. Following the transaction, the senior vice president now owns 5,051 shares in the company, valued at approximately $609,150.60. This represents a 67.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.18% of the company’s stock.

ArcBest Stock Performance

Shares of ARCB opened at $107.71 on Wednesday. ArcBest Co. has a one year low of $94.76 and a one year high of $153.60. The company has a market cap of $2.52 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 2.03 and a beta of 1.47. The firm has a 50-day moving average of $106.50 and a 200-day moving average of $108.61. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $2.31 EPS. ArcBest’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, equities analysts forecast that ArcBest Co. will post 6.19 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.45%. The ex-dividend date is Wednesday, November 13th. ArcBest’s dividend payout ratio is 5.93%.

ArcBest Profile

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.