Strs Ohio Sells 800 Shares of ArcBest Co. (NASDAQ:ARCB)

Strs Ohio lessened its holdings in ArcBest Co. (NASDAQ:ARCB) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,300 shares of the transportation company’s stock after selling 800 shares during the quarter. Strs Ohio’s holdings in ArcBest were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in ArcBest by 15,450.0% in the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after purchasing an additional 309 shares during the period. SG Americas Securities LLC purchased a new position in ArcBest in the 3rd quarter worth $141,000. Bellecapital International Ltd. purchased a new position in ArcBest in the 4th quarter worth $213,000. PFG Investments LLC purchased a new position in ArcBest in the 4th quarter worth $218,000. Finally, Saxon Interests Inc. purchased a new position in ArcBest in the 4th quarter worth $220,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. The Goldman Sachs Group boosted their price objective on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Stephens boosted their price objective on shares of ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a research report on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on shares of ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.54.

Insider Buying and Selling

In related news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the sale, the insider now owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.18% of the stock is currently owned by insiders.

ArcBest Trading Up 4.6 %

NASDAQ:ARCB opened at $145.95 on Wednesday. ArcBest Co. has a one year low of $82.18 and a one year high of $153.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26. The company’s 50-day simple moving average is $140.51 and its 200 day simple moving average is $124.72. The firm has a market capitalization of $3.43 billion, a P/E ratio of 18.45, a PEG ratio of 0.59 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm posted $2.45 earnings per share. ArcBest’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, analysts forecast that ArcBest Co. will post 10.05 EPS for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.33%. The ex-dividend date was Thursday, February 15th. ArcBest’s payout ratio is currently 6.07%.

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.