Westwood Holdings Group Inc. Has $59.98 Million Stock Position in ArcBest Co. (NASDAQ:ARCB)

Westwood Holdings Group Inc. reduced its holdings in shares of ArcBest Co. (NASDAQ:ARCBFree Report) by 13.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 498,944 shares of the transportation company’s stock after selling 74,448 shares during the quarter. Westwood Holdings Group Inc. owned 2.11% of ArcBest worth $59,978,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ARCB. Cooper Creek Partners Management LLC purchased a new position in ArcBest during the third quarter worth about $29,108,000. Wellington Management Group LLP purchased a new position in ArcBest during the third quarter worth about $10,561,000. Norges Bank purchased a new position in ArcBest during the fourth quarter worth about $9,298,000. Ardsley Advisory Partners LP purchased a new position in ArcBest during the third quarter worth about $5,075,000. Finally, Northern Trust Corp boosted its holdings in ArcBest by 9.4% during the third quarter. Northern Trust Corp now owns 458,090 shares of the transportation company’s stock worth $46,565,000 after purchasing an additional 39,215 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARCB. Bank of America dropped their target price on shares of ArcBest from $143.00 to $110.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. UBS Group dropped their target price on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group boosted their target price on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company began coverage on shares of ArcBest in a research note on Friday. They issued an “overweight” rating and a $140.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, ArcBest presently has an average rating of “Moderate Buy” and an average price target of $142.50.

Read Our Latest Research Report on ArcBest

ArcBest Price Performance

ArcBest stock traded up $6.88 during midday trading on Friday, reaching $108.42. 449,720 shares of the stock were exchanged, compared to its average volume of 246,649. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.23. ArcBest Co. has a 52 week low of $84.54 and a 52 week high of $153.60. The firm has a market cap of $2.54 billion, a PE ratio of 21.81, a PEG ratio of 0.92 and a beta of 1.49. The company’s fifty day moving average is $123.95 and its 200-day moving average is $125.74.

ArcBest (NASDAQ:ARCBGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm earned $1.58 EPS. ArcBest’s quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts forecast that ArcBest Co. will post 8.51 EPS for the current year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. ArcBest’s dividend payout ratio is presently 9.66%.

ArcBest Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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