1,827 Shares in ArcBest Co. (NASDAQ:ARCB) Purchased by Saxon Interests Inc.

Saxon Interests Inc. purchased a new stake in shares of ArcBest Co. (NASDAQ:ARCB) in the 4th quarter, Holdings Channel reports. The fund purchased 1,827 shares of the transportation company’s stock, valued at approximately $220,000.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in ArcBest by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 2,714,834 shares of the transportation company’s stock worth $218,544,000 after acquiring an additional 55,946 shares during the last quarter. State Street Corp raised its position in ArcBest by 6.3% during the first quarter. State Street Corp now owns 1,067,783 shares of the transportation company’s stock worth $85,957,000 after acquiring an additional 63,476 shares in the last quarter. Morgan Stanley lifted its stake in ArcBest by 2.3% in the fourth quarter. Morgan Stanley now owns 568,392 shares of the transportation company’s stock valued at $39,810,000 after acquiring an additional 12,534 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ArcBest by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 525,662 shares of the transportation company’s stock valued at $51,935,000 after acquiring an additional 9,184 shares during the period. Finally, Northern Trust Corp grew its position in shares of ArcBest by 9.4% in the 3rd quarter. Northern Trust Corp now owns 458,090 shares of the transportation company’s stock valued at $46,565,000 after acquiring an additional 39,215 shares during the period. Institutional investors own 99.27% of the company’s stock.

ArcBest Stock Up 3.9 %

NASDAQ ARCB traded up $5.33 on Thursday, reaching $142.50. The company had a trading volume of 508,315 shares, compared to its average volume of 289,282. ArcBest Co. has a 52-week low of $82.18 and a 52-week high of $149.89. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average is $134.45 and its 200 day moving average is $118.76. The stock has a market capitalization of $3.35 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.57 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.25. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.45 EPS. Sell-side analysts anticipate that ArcBest Co. will post 10.15 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Thursday, February 15th. ArcBest’s dividend payout ratio is currently 6.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Stephens increased their price objective on shares of ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 26th. TD Cowen upped their price objective on shares of ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. initiated coverage on shares of ArcBest in a research report on Monday, March 11th. They set an “overweight” rating and a $168.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.69.

Insider Activity

In related news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the sale, the insider now directly owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.65% of the company’s stock.

ArcBest Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.