State of Wyoming Buys 7,810 Shares of ArcBest Corporation $ARCB

State of Wyoming boosted its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 448.6% in the fourth quarter, Holdings Channel reports. The firm owned 9,551 shares of the transportation company’s stock after acquiring an additional 7,810 shares during the period. State of Wyoming’s holdings in ArcBest were worth $709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ARCB. Vanguard Group Inc. boosted its position in shares of ArcBest by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company’s stock valued at $181,852,000 after acquiring an additional 6,808 shares during the period. American Century Companies Inc. boosted its position in shares of ArcBest by 9.6% in the third quarter. American Century Companies Inc. now owns 817,091 shares of the transportation company’s stock valued at $57,090,000 after acquiring an additional 71,420 shares during the period. Turtle Creek Asset Management Inc. bought a new stake in shares of ArcBest in the third quarter valued at approximately $39,508,000. Jacobs Levy Equity Management Inc. boosted its position in shares of ArcBest by 4.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 520,886 shares of the transportation company’s stock valued at $36,394,000 after acquiring an additional 24,102 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of ArcBest by 349.9% in the fourth quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock valued at $36,634,000 after acquiring an additional 384,024 shares during the period. Institutional investors own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

ARCB has been the subject of several research reports. UBS Group increased their price objective on ArcBest from $98.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group increased their price objective on ArcBest from $102.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. TD Cowen increased their price objective on ArcBest from $97.00 to $137.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price objective on ArcBest from $85.00 to $117.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Truist Financial increased their price objective on ArcBest from $95.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, ArcBest has an average rating of “Moderate Buy” and an average price target of $123.42.

ArcBest Stock Up 2.8%

Shares of ARCB stock opened at $146.08 on Friday. The stock has a market cap of $3.25 billion, a P/E ratio of 60.12, a price-to-earnings-growth ratio of 0.77 and a beta of 1.55. ArcBest Corporation has a one year low of $59.43 and a one year high of $146.31. The stock has a fifty day moving average price of $117.75 and a 200 day moving average price of $97.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $998.79 million during the quarter, compared to analysts’ expectations of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.ArcBest’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.51 earnings per share. Analysts predict that ArcBest Corporation will post 5.29 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, May 8th. ArcBest’s dividend payout ratio (DPR) is 19.75%.

About ArcBest

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.