ArcBest Co. (NASDAQ:ARCB) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 436,720 shares of the transportation company’s stock after selling 12,200 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in ArcBest were worth $18,635,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Federated Hermes Inc. grew its position in shares of ArcBest by 28.9% during the fourth quarter. Federated Hermes Inc. now owns 29,864 shares of the transportation company’s stock worth $1,274,000 after buying an additional 6,704 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of ArcBest by 3.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 15,084 shares of the transportation company’s stock worth $644,000 after buying an additional 558 shares in the last quarter. Credit Suisse AG grew its position in shares of ArcBest by 27.0% during the fourth quarter. Credit Suisse AG now owns 24,158 shares of the transportation company’s stock worth $1,031,000 after buying an additional 5,134 shares in the last quarter. Alpha Paradigm Partners LLC acquired a new position in shares of ArcBest during the fourth quarter worth about $958,000. Finally, Lazard Asset Management LLC grew its position in shares of ArcBest by 54.8% during the fourth quarter. Lazard Asset Management LLC now owns 1,204 shares of the transportation company’s stock worth $51,000 after buying an additional 426 shares in the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

In related news, Director Kathleen D. Mcelligott sold 5,000 shares of the company’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $71.57, for a total transaction of $357,850.00. Following the transaction, the director now owns 19,600 shares of the company’s stock, valued at $1,402,772. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael R. Johns sold 1,629 shares of the company’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $52.68, for a total value of $85,815.72. Corporate insiders own 1.88% of the company’s stock.

A number of equities analysts recently issued reports on the company. Stephens upped their price target on ArcBest from $60.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley upped their price target on ArcBest from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, March 31st. Cowen upped their price target on ArcBest from $46.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, February 3rd. Vertical Research assumed coverage on ArcBest in a report on Thursday, April 1st. They issued a “hold” rating and a $72.00 price target for the company. Finally, Smith Barney Citigroup upped their price target on ArcBest from $47.00 to $60.00 in a report on Thursday, January 14th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. ArcBest presently has a consensus rating of “Buy” and a consensus target price of $55.92.

ArcBest stock opened at $71.87 on Thursday. ArcBest Co. has a 12 month low of $17.20 and a 12 month high of $74.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.47 and a quick ratio of 1.47. The business has a 50 day simple moving average of $66.48 and a 200-day simple moving average of $47.23. The stock has a market capitalization of $1.83 billion, a PE ratio of 45.78, a price-to-earnings-growth ratio of 1.26 and a beta of 1.80.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Monday, February 1st. The transportation company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. ArcBest had a return on equity of 9.58% and a net margin of 1.47%. The business had revenue of $816.70 million during the quarter, compared to analysts’ expectations of $802.11 million. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that ArcBest Co. will post 3.16 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 25th. Stockholders of record on Thursday, February 11th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 10th. This is a boost from ArcBest’s previous quarterly dividend of $0.03. ArcBest’s dividend payout ratio is 11.11%.

ArcBest Profile

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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