Robeco Institutional Asset Management B.V. grew its holdings in ArcBest Corp (NASDAQ:ARCB) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 154,623 shares of the transportation company’s stock after buying an additional 8,255 shares during the period. Robeco Institutional Asset Management B.V. owned 0.61% of ArcBest worth $4,266,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mackay Shields LLC bought a new position in ArcBest during the 3rd quarter worth $2,320,000. California Public Employees Retirement System grew its position in shares of ArcBest by 139.6% during the 4th quarter. California Public Employees Retirement System now owns 122,686 shares of the transportation company’s stock worth $3,386,000 after purchasing an additional 71,478 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of ArcBest by 90.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 95,653 shares of the transportation company’s stock worth $2,912,000 after purchasing an additional 45,517 shares in the last quarter. State Street Corp increased its holdings in shares of ArcBest by 3.6% during the fourth quarter. State Street Corp now owns 836,983 shares of the transportation company’s stock worth $23,101,000 after purchasing an additional 28,838 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of ArcBest by 99.4% during the third quarter. Public Employees Retirement System of Ohio now owns 54,677 shares of the transportation company’s stock worth $1,665,000 after purchasing an additional 27,255 shares during the period. 91.25% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on ARCB shares. Zacks Investment Research cut ArcBest from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th. Loop Capital reaffirmed a “hold” rating and issued a $26.00 price objective on shares of ArcBest in a report on Monday, February 10th. ValuEngine cut ArcBest from a “buy” rating to a “hold” rating in a report on Saturday, January 4th. BidaskClub downgraded ArcBest from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 24th. Finally, Stephens reduced their target price on ArcBest from $34.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $33.20.
ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. The company had revenue of $717.40 million during the quarter, compared to analysts’ expectations of $721.85 million. ArcBest had a return on equity of 9.49% and a net margin of 1.34%. ArcBest’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 EPS. As a group, analysts predict that ArcBest Corp will post 2.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Monday, February 10th. ArcBest’s dividend payout ratio is presently 11.11%.
ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.
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