Lake Hills Wealth Management LLC Acquires New Position in ArcBest Co. (NASDAQ:ARCB)

Lake Hills Wealth Management LLC bought a new position in ArcBest Co. (NASDAQ:ARCB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,436 shares of the transportation company’s stock, valued at approximately $414,000.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its position in ArcBest by 1.9% in the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock valued at $103,831,000 after acquiring an additional 17,542 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of ArcBest by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company’s stock worth $59,856,000 after buying an additional 3,475 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ArcBest by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock valued at $44,927,000 after acquiring an additional 21,905 shares during the period. JPMorgan Chase & Co. boosted its position in ArcBest by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after purchasing an additional 43,707 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of ArcBest by 158.7% during the 2nd quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock valued at $20,558,000 after purchasing an additional 117,774 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Trading Down 1.6 %

Shares of NASDAQ ARCB opened at $98.47 on Thursday. The stock has a market capitalization of $2.30 billion, a P/E ratio of 12.16, a PEG ratio of 1.86 and a beta of 1.53. ArcBest Co. has a 1-year low of $91.01 and a 1-year high of $153.60. The business’s 50 day moving average is $102.87 and its two-hundred day moving average is $106.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 EPS. As a group, research analysts expect that ArcBest Co. will post 6.02 EPS for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.49%. ArcBest’s dividend payout ratio is presently 5.93%.

Insider Activity at ArcBest

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the sale, the senior vice president now owns 5,051 shares in the company, valued at $609,150.60. This trade represents a 67.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the sale, the director now directly owns 23,250 shares of the company’s stock, valued at $2,555,407.50. This represents a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ARCB. TD Cowen downgraded shares of ArcBest from a “buy” rating to a “hold” rating and decreased their price target for the stock from $131.00 to $114.00 in a research report on Monday, October 14th. Stifel Nicolaus cut their price target on ArcBest from $114.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company lowered their price objective on ArcBest from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group cut their target price on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Finally, Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, ArcBest has a consensus rating of “Hold” and an average price target of $123.67.

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.