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

Segall Bryant & Hamill LLC cut its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,329 shares of the transportation company’s stock after selling 2,992 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in ArcBest were worth $29,209,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARCB. Westwood Holdings Group Inc. grew its stake in ArcBest by 34.7% during the second quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock worth $62,509,000 after buying an additional 150,467 shares in the last quarter. American Century Companies Inc. raised its position in ArcBest by 4.0% during the second quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock valued at $56,267,000 after purchasing an additional 20,115 shares in the last quarter. Marshall Wace LLP lifted its stake in ArcBest by 158.7% during the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock worth $20,558,000 after purchasing an additional 117,774 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of ArcBest by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock valued at $16,141,000 after purchasing an additional 1,214 shares in the last quarter. Finally, FAS Wealth Partners Inc. boosted its position in ArcBest by 86.3% in the second quarter. FAS Wealth Partners Inc. now owns 80,050 shares of the transportation company’s stock valued at $8,572,000 after buying an additional 37,073 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the sale, the senior vice president now directly owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. This trade represents a 67.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ARCB. Stephens reiterated an “overweight” rating and issued a $130.00 price target on shares of ArcBest in a research note on Wednesday, September 4th. Wells Fargo & Company dropped their price target on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. The Goldman Sachs Group dropped their target price on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Stifel Nicolaus decreased their price target on ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $124.50.

ArcBest Trading Down 0.5 %

ARCB opened at $107.71 on Wednesday. ArcBest Co. has a fifty-two week low of $94.76 and a fifty-two week high of $153.60. The firm has a market capitalization of $2.52 billion, a PE ratio of 13.30, a P/E/G ratio of 2.03 and a beta of 1.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50-day moving average is $106.50 and its 200 day moving average is $108.61.

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

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid 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 (DPR) is presently 5.93%.

ArcBest Company 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.