Cambria Investment Management L.P. Acquires Shares of 8,996 ArcBest (ARCB)

Cambria Investment Management L.P. acquired a new position in shares of ArcBest (NASDAQ:ARCB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,996 shares of the transportation company’s stock, valued at approximately $288,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its holdings in ArcBest by 3.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 323,068 shares of the transportation company’s stock worth $11,550,000 after buying an additional 11,611 shares during the period. Spark Investment Management LLC increased its holdings in shares of ArcBest by 41.5% in the 4th quarter. Spark Investment Management LLC now owns 174,300 shares of the transportation company’s stock valued at $6,231,000 after purchasing an additional 51,100 shares during the period. James Investment Research Inc. acquired a new position in shares of ArcBest in the 4th quarter valued at about $1,000,000. Cornerstone Capital Management Holdings LLC. increased its holdings in shares of ArcBest by 125.3% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 146,900 shares of the transportation company’s stock valued at $5,251,000 after purchasing an additional 81,700 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of ArcBest by 5.5% in the 4th quarter. Victory Capital Management Inc. now owns 45,056 shares of the transportation company’s stock valued at $1,611,000 after purchasing an additional 2,351 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

ARCB has been the topic of a number of research reports. BidaskClub downgraded ArcBest from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Zacks Investment Research upgraded ArcBest from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a report on Tuesday, April 3rd. Cowen reiterated a “market perform” rating and issued a $41.00 target price (up previously from $39.00) on shares of ArcBest in a report on Friday, May 11th. Stifel Nicolaus upgraded ArcBest from a “sell” rating to a “hold” rating and dropped their target price for the company from $35.00 to $32.00 in a report on Monday, April 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $32.00 target price (up previously from $23.00) on shares of ArcBest in a report on Wednesday, February 21st. Ten analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.00.

Shares of ArcBest opened at $47.45 on Friday, according to MarketBeat Ratings. The company has a market capitalization of $1.21 billion, a P/E ratio of 35.68, a PEG ratio of 0.48 and a beta of 1.79. ArcBest has a 52 week low of $18.45 and a 52 week high of $49.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.33 and a quick ratio of 1.33.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Thursday, May 10th. The transportation company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.36. The business had revenue of $700.00 million during the quarter, compared to analysts’ expectations of $689.24 million. ArcBest had a return on equity of 7.79% and a net margin of 2.68%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.22) EPS. equities analysts forecast that ArcBest will post 2.82 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 29th. Investors of record on Tuesday, May 15th were paid a $0.08 dividend. The ex-dividend date was Monday, May 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.67%. ArcBest’s payout ratio is 24.06%.

In related news, Director William Legg sold 9,947 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $47.06, for a total value of $468,105.82. Following the completion of the sale, the director now owns 26,200 shares of the company’s stock, valued at approximately $1,232,972. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael E. Newcity sold 5,589 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $47.00, for a total value of $262,683.00. Following the completion of the sale, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at approximately $1,880,000. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

ArcBest Company Profile

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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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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