Texas Permanent School Fund trimmed its stake in ArcBest Corp (NASDAQ:ARCB) by 7.7% in the 4th quarter, Holdings Channel reports. The firm owned 17,330 shares of the transportation company’s stock after selling 1,437 shares during the period. Texas Permanent School Fund’s holdings in ArcBest were worth $620,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Stephens Inc. AR bought a new stake in shares of ArcBest in the 3rd quarter valued at approximately $299,000. Crossmark Global Holdings Inc. bought a new stake in shares of ArcBest during the 3rd quarter worth approximately $414,000. BNP Paribas Arbitrage SA lifted its stake in shares of ArcBest by 71.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,279 shares of the transportation company’s stock worth $444,000 after acquiring an additional 5,522 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of ArcBest by 6.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 14,480 shares of the transportation company’s stock worth $298,000 after acquiring an additional 870 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in shares of ArcBest during the 3rd quarter worth approximately $568,000. 87.16% of the stock is owned by institutional investors and hedge funds.
In other ArcBest news, Director William Legg sold 6,153 shares of ArcBest stock in a transaction on Monday, December 11th. The stock was sold at an average price of $37.52, for a total transaction of $230,860.56. Following the completion of the sale, the director now directly owns 36,147 shares of the company’s stock, valued at approximately $1,356,235.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Janice E. Stipp sold 3,700 shares of ArcBest stock in a transaction on Friday, December 8th. The shares were sold at an average price of $38.09, for a total value of $140,933.00. Following the sale, the director now directly owns 20,200 shares of the company’s stock, valued at $769,418. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
Shares of ArcBest Corp (NASDAQ ARCB) opened at $33.45 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $857.55, a price-to-earnings ratio of 24.60 and a beta of 1.71. ArcBest Corp has a 1 year low of $16.95 and a 1 year high of $39.70.
ArcBest (NASDAQ:ARCB) last issued its earnings results on Wednesday, January 31st. The transportation company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.07. The business had revenue of $710.72 million during the quarter, compared to analyst estimates of $723.69 million. ArcBest had a return on equity of 5.82% and a net margin of 2.11%. ArcBest’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. equities research analysts predict that ArcBest Corp will post 2.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Friday, February 9th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 8th. ArcBest’s dividend payout ratio (DPR) is presently 14.29%.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.com-unik.info/2018/02/19/texas-permanent-school-fund-has-620000-stake-in-arcbest-corp-arcb.html.
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 Corp (NASDAQ:ARCB).
Receive News & Ratings for ArcBest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest and related companies with MarketBeat.com's FREE daily email newsletter.