ArcBest Corp (NASDAQ:ARCB) Stake Lessened by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its stake in ArcBest Corp (NASDAQ:ARCB) by 26.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,900 shares of the transportation company’s stock after selling 36,588 shares during the quarter. Two Sigma Advisers LP owned about 0.39% of ArcBest worth $3,457,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in ArcBest by 2.6% in the fourth quarter. BlackRock Inc. now owns 3,728,659 shares of the transportation company’s stock valued at $127,743,000 after buying an additional 93,618 shares in the last quarter. Vanguard Group Inc raised its stake in shares of ArcBest by 4.4% during the third quarter. Vanguard Group Inc now owns 3,142,794 shares of the transportation company’s stock valued at $152,583,000 after acquiring an additional 132,068 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of ArcBest by 4.4% during the third quarter. Vanguard Group Inc. now owns 3,142,794 shares of the transportation company’s stock valued at $152,583,000 after acquiring an additional 132,068 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ArcBest by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,161,946 shares of the transportation company’s stock valued at $104,963,000 after acquiring an additional 11,391 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of ArcBest by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 548,121 shares of the transportation company’s stock valued at $18,778,000 after acquiring an additional 6,580 shares during the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ARCB stock opened at $31.57 on Friday. The stock has a market capitalization of $806.24 million, a price-to-earnings ratio of 8.18, a P/E/G ratio of 3.14 and a beta of 2.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. ArcBest Corp has a 52 week low of $30.16 and a 52 week high of $51.45.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Wednesday, January 30th. The transportation company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. ArcBest had a net margin of 2.17% and a return on equity of 14.95%. The business had revenue of $774.28 million for the quarter, compared to analyst estimates of $767.78 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts predict that ArcBest Corp will post 3.68 earnings per share for the current year.

A number of brokerages recently weighed in on ARCB. Bank of America reissued an “underperform” rating and set a $34.00 target price (down previously from $45.00) on shares of ArcBest in a research note on Tuesday, March 12th. Seaport Global Securities restated a “neutral” rating on shares of ArcBest in a report on Friday, April 5th. BidaskClub cut shares of ArcBest from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Cowen restated a “hold” rating and issued a $42.00 price target on shares of ArcBest in a report on Thursday, January 31st. Finally, Buckingham Research reduced their price objective on shares of ArcBest from $46.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $41.89.

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ArcBest Company Profile

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. 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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