LSV Asset Management Has $36.35 Million Position in ArcBest Corporation $ARCB

LSV Asset Management lessened its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,049 shares of the transportation company’s stock after selling 4,500 shares during the period. LSV Asset Management owned approximately 2.08% of ArcBest worth $36,352,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in ArcBest during the 1st quarter worth approximately $18,460,000. Westwood Holdings Group Inc. increased its position in shares of ArcBest by 36.7% during the first quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company’s stock worth $61,353,000 after acquiring an additional 233,409 shares in the last quarter. Ancora Advisors LLC raised its holdings in shares of ArcBest by 1,812.9% during the first quarter. Ancora Advisors LLC now owns 204,587 shares of the transportation company’s stock worth $14,440,000 after acquiring an additional 193,892 shares during the period. Federated Hermes Inc. bought a new stake in ArcBest in the 1st quarter valued at $9,202,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in ArcBest by 215.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock valued at $10,808,000 after acquiring an additional 104,643 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stifel Nicolaus increased their target price on ArcBest from $81.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Stephens cut ArcBest from an “overweight” rating to an “equal weight” rating and set a $72.00 price objective for the company. in a research report on Thursday, November 6th. UBS Group decreased their price objective on ArcBest from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. TD Cowen dropped their target price on ArcBest from $67.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Finally, Citigroup raised ArcBest from a “neutral” rating to a “buy” rating and upped their price target for the stock from $79.00 to $89.00 in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ArcBest currently has an average rating of “Hold” and a consensus price target of $85.67.

ArcBest Stock Performance

ARCB opened at $62.75 on Wednesday. The business’s 50-day simple moving average is $70.66 and its 200 day simple moving average is $71.71. ArcBest Corporation has a 52-week low of $55.19 and a 52-week high of $115.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.41 billion, a PE ratio of 9.34, a PEG ratio of 1.35 and a beta of 1.67.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Wednesday, November 5th. The transportation company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.09. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that ArcBest Corporation will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 14th. ArcBest’s dividend payout ratio is 11.40%.

About ArcBest

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.