James Investment Research Inc. Reduces Stake in ArcBest Corp (ARCB)

James Investment Research Inc. decreased its holdings in shares of ArcBest Corp (NASDAQ:ARCB) by 71.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,865 shares of the transportation company’s stock after selling 29,810 shares during the quarter. James Investment Research Inc.’s holdings in ArcBest were worth $365,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new position in shares of ArcBest during the 4th quarter valued at about $38,000. PNC Financial Services Group Inc. boosted its position in shares of ArcBest by 13.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 375 shares during the last quarter. Neuburgh Advisers LLC boosted its position in shares of ArcBest by 15.1% during the 4th quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock valued at $121,000 after acquiring an additional 462 shares during the last quarter. Sun Life Financial INC boosted its position in shares of ArcBest by 596.2% during the 4th quarter. Sun Life Financial INC now owns 3,885 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 3,327 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its position in shares of ArcBest by 15.1% during the 4th quarter. Flinton Capital Management LLC now owns 5,440 shares of the transportation company’s stock valued at $186,000 after acquiring an additional 714 shares during the last quarter. 94.32% of the stock is owned by institutional investors and hedge funds.

Shares of ARCB stock opened at $30.20 on Friday. ArcBest Corp has a twelve month low of $28.34 and a twelve month high of $51.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $771.25 million, a PE ratio of 8.07, a PEG ratio of 2.88 and a beta of 2.07.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Thursday, May 2nd. The transportation company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.13). ArcBest had a net margin of 2.00% and a return on equity of 14.32%. The company had revenue of $711.84 million during the quarter, compared to analyst estimates of $724.33 million. During the same period in the previous year, the company earned $0.29 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, analysts forecast that ArcBest Corp will post 3.68 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.06%. ArcBest’s payout ratio is currently 8.29%.

Several research analysts have recently weighed in on ARCB shares. ValuEngine cut shares of ArcBest from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Cowen reissued a “hold” rating and set a $42.00 price target on shares of ArcBest in a research report on Thursday, January 31st. BidaskClub cut shares of ArcBest from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Bank of America reissued an “underperform” rating and set a $34.00 price target (down previously from $45.00) on shares of ArcBest in a research report on Tuesday, March 12th. Finally, Loop Capital boosted their price target on shares of ArcBest from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 31st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.67.

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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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