EMC Capital Management Increases Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

EMC Capital Management raised its stake in ArcBest Co. (NASDAQ:ARCBGet Rating) by 50.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,580 shares of the transportation company’s stock after purchasing an additional 864 shares during the period. EMC Capital Management’s holdings in ArcBest were worth $182,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ARCB. JPMorgan Chase & Co. boosted its holdings in shares of ArcBest by 40.8% in the second quarter. JPMorgan Chase & Co. now owns 453,651 shares of the transportation company’s stock valued at $31,923,000 after acquiring an additional 131,550 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of ArcBest by 31.8% in the first quarter. Renaissance Technologies LLC now owns 357,739 shares of the transportation company’s stock valued at $28,798,000 after acquiring an additional 86,400 shares during the period. Quantedge Capital Pte Ltd lifted its holdings in shares of ArcBest by 1,034.2% during the first quarter. Quantedge Capital Pte Ltd now owns 86,200 shares of the transportation company’s stock worth $6,939,000 after purchasing an additional 78,600 shares during the period. Taika Capital LP acquired a new stake in shares of ArcBest during the first quarter worth $5,517,000. Finally, State Street Corp lifted its holdings in shares of ArcBest by 6.3% during the first quarter. State Street Corp now owns 1,067,783 shares of the transportation company’s stock worth $85,957,000 after purchasing an additional 63,476 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ARCB shares. Credit Suisse Group increased their price target on ArcBest from $87.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Cowen decreased their price target on ArcBest to $127.00 in a report on Tuesday, August 9th. Stephens increased their price target on ArcBest from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, August 1st. StockNews.com assumed coverage on ArcBest in a report on Wednesday, October 12th. They set a “buy” rating for the company. Finally, Citigroup cut their price objective on ArcBest from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, October 7th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.67.

Insider Activity

In related news, insider Daniel E. Loe sold 7,555 shares of ArcBest stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $81.14, for a total transaction of $613,012.70. Following the completion of the sale, the insider now owns 26,615 shares in the company, valued at approximately $2,159,541.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.68% of the company’s stock.

ArcBest Price Performance

Shares of ARCB stock traded up $1.09 during mid-day trading on Thursday, reaching $81.77. The stock had a trading volume of 87,733 shares, compared to its average volume of 203,296. ArcBest Co. has a 12-month low of $65.15 and a 12-month high of $125.00. The company has a market cap of $2.00 billion, a P/E ratio of 6.46, a price-to-earnings-growth ratio of 0.33 and a beta of 1.56. The business has a 50-day simple moving average of $76.69 and a 200 day simple moving average of $77.81. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.17.

ArcBest (NASDAQ:ARCBGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The transportation company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.72 by $0.08. ArcBest had a return on equity of 35.11% and a net margin of 6.20%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the business posted $2.59 earnings per share. The business’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, sell-side analysts anticipate that ArcBest Co. will post 13.94 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, November 9th. ArcBest’s dividend payout ratio is currently 3.79%.

ArcBest Profile

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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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