ArcBest Corporation (ARCB) Shares Bought by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC increased its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 29.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 155,678 shares of the transportation company’s stock after purchasing an additional 35,404 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.61% of ArcBest Corporation worth $3,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ARCB. BlackRock Inc. lifted its position in shares of ArcBest Corporation by 18,670.6% during the 1st quarter. BlackRock Inc. now owns 3,328,407 shares of the transportation company’s stock worth $86,539,000 after purchasing an additional 3,310,675 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of ArcBest Corporation by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 2,133,187 shares of the transportation company’s stock worth $55,462,000 after purchasing an additional 124,009 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of ArcBest Corporation by 26.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 524,005 shares of the transportation company’s stock worth $10,792,000 after purchasing an additional 108,200 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its position in shares of ArcBest Corporation by 39.4% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 299,844 shares of the transportation company’s stock worth $6,176,000 after purchasing an additional 84,764 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of ArcBest Corporation by 1,508.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 87,350 shares of the transportation company’s stock worth $1,799,000 after purchasing an additional 81,920 shares during the last quarter. 85.17% of the stock is owned by institutional investors and hedge funds.

In other news, COO James A. Ingram sold 6,918 shares of ArcBest Corporation stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $27.14, for a total value of $187,754.52. Following the completion of the sale, the chief operating officer now directly owns 43,500 shares in the company, valued at $1,180,590. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael R. Johns sold 6,593 shares of ArcBest Corporation 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 sale, the vice president now owns 35,700 shares of the company’s stock, valued at $1,070,286. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,210 shares of company stock valued at $665,376. Corporate insiders own 0.97% of the company’s stock.

Several equities analysts recently weighed in on ARCB shares. Zacks Investment Research raised ArcBest Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. ValuEngine raised ArcBest Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Stifel Nicolaus reissued a “hold” rating and set a $28.00 price objective on shares of ArcBest Corporation in a research report on Thursday, September 21st. Cowen and Company cut ArcBest Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Finally, Buckingham Research started coverage on ArcBest Corporation in a research report on Monday, August 21st. They set a “neutral” rating and a $29.00 price objective for the company. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.83.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, November 13th. ArcBest Corporation’s dividend payout ratio is presently 37.21%.

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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).

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

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