Schwab Charles Investment Management Inc. Grows Stake in ArcBest Corporation (ARCB)

Schwab Charles Investment Management Inc. grew its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 12.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 297,333 shares of the transportation company’s stock after acquiring an additional 31,856 shares during the period. Schwab Charles Investment Management Inc. owned about 1.16% of ArcBest Corporation worth $6,126,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Stephens Inc. AR grew its position in shares of ArcBest Corporation by 0.7% during the 1st quarter. Stephens Inc. AR now owns 8,728 shares of the transportation company’s stock valued at $227,000 after acquiring an additional 60 shares during the period. Arizona State Retirement System grew its position in shares of ArcBest Corporation by 0.8% during the 1st quarter. Arizona State Retirement System now owns 12,416 shares of the transportation company’s stock valued at $323,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System grew its position in shares of ArcBest Corporation by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock valued at $202,000 after acquiring an additional 100 shares during the period. Texas Permanent School Fund grew its position in shares of ArcBest Corporation by 1.7% during the 2nd quarter. Texas Permanent School Fund now owns 17,543 shares of the transportation company’s stock valued at $361,000 after acquiring an additional 299 shares during the period. Finally, Mason Street Advisors LLC grew its position in shares of ArcBest Corporation by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 5,569 shares of the transportation company’s stock valued at $145,000 after acquiring an additional 362 shares during the period. 84.91% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Michael R. Johns sold 6,593 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $29.98, for a total transaction of $197,658.14. Following the completion of the transaction, the vice president now directly owns 35,700 shares of the company’s stock, valued at $1,070,286. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James A. Ingram sold 6,918 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $27.14, for a total transaction of $187,754.52. Following the transaction, the chief operating officer now directly owns 43,500 shares of the company’s stock, valued at $1,180,590. The disclosure for this sale can be found here. Insiders have sold 24,210 shares of company stock valued at $665,376 over the last three months. 0.97% of the stock is owned by corporate insiders.

ArcBest Corporation (ARCB) opened at 32.15 on Wednesday. The company has a market capitalization of $826.45 million, a P/E ratio of 37.17 and a beta of 1.78. ArcBest Corporation has a 12-month low of $16.95 and a 12-month high of $34.25. The company has a 50-day moving average of $30.08 and a 200 day moving average of $24.53.

ArcBest Corporation (NASDAQ:ARCB) last released its quarterly earnings data on Friday, July 28th. The transportation company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.09. ArcBest Corporation had a net margin of 0.83% and a return on equity of 4.92%. The firm had revenue of $720.40 million during the quarter, compared to analysts’ expectations of $721.11 million. During the same period in the previous year, the company earned $0.38 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that ArcBest Corporation will post $1.31 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus reissued a “hold” rating and set a $28.00 target price on shares of ArcBest Corporation in a research report on Thursday, September 21st. Deutsche Bank AG reissued a “hold” rating and set a $29.00 target price (up from $26.00) on shares of ArcBest Corporation in a research report on Wednesday, August 9th. TheStreet raised shares of ArcBest Corporation from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded shares of ArcBest Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Buckingham Research assumed coverage on shares of ArcBest Corporation in a research report on Monday, August 21st. They set a “neutral” rating and a $29.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.83.

TRADEMARK VIOLATION WARNING: This article was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.com-unik.info/2017/10/11/schwab-charles-investment-management-inc-grows-stake-in-arcbest-corporation-arcb.html.

About ArcBest Corporation

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

Want to see what other hedge funds are holding ARCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ArcBest Corporation (NASDAQ:ARCB).

Institutional Ownership by Quarter for ArcBest Corporation (NASDAQ:ARCB)

What are top analysts saying about ArcBest Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for ArcBest Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit