Fmr LLC Has $121.24 Million Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

Fmr LLC decreased its stake in ArcBest Co. (NASDAQ:ARCB) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,299,135 shares of the transportation company’s stock after selling 120,838 shares during the period. Fmr LLC owned about 5.55% of ArcBest worth $121,235,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ARCB. State Street Corp boosted its holdings in shares of ArcBest by 1.9% during the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock valued at $103,831,000 after acquiring an additional 17,542 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of ArcBest by 7.6% during the third quarter. Public Employees Retirement System of Ohio now owns 34,124 shares of the transportation company’s stock valued at $3,701,000 after purchasing an additional 2,403 shares in the last quarter. Barclays PLC grew its holdings in shares of ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after purchasing an additional 33,386 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ArcBest by 0.6% in the third quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company’s stock valued at $59,856,000 after buying an additional 3,475 shares during the period. Finally, Virtu Financial LLC acquired a new stake in ArcBest during the 3rd quarter worth approximately $485,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Insider Buying and Selling

In other news, CFO John Matthew Beasley bought 700 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.28% of the stock is currently owned by corporate insiders.

ArcBest Price Performance

Shares of ARCB opened at $62.46 on Tuesday. The stock has a market cap of $1.45 billion, a P/E ratio of 8.52, a P/E/G ratio of 1.70 and a beta of 1.62. The business’s fifty day moving average is $76.89 and its 200 day moving average is $94.03. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. ArcBest Co. has a 12-month low of $57.80 and a 12-month high of $151.54.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter in the previous year, the company earned $2.47 earnings per share. Sell-side analysts anticipate that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.77%. ArcBest’s payout ratio is 6.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lowered their target price on ArcBest from $96.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Stephens restated an “overweight” rating and issued a $116.00 price target on shares of ArcBest in a research report on Tuesday, March 11th. UBS Group reduced their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group lowered their target price on shares of ArcBest from $108.00 to $97.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $101.75.

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.