ArcBest Co. (NASDAQ:ARCB) Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC reduced its position in shares of ArcBest Co. (NASDAQ:ARCB) by 35.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,009 shares of the transportation company’s stock after selling 20,395 shares during the period. Moody Aldrich Partners LLC’s holdings in ArcBest were worth $4,449,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ARCB. Allworth Financial LP increased its position in ArcBest by 15,450.0% in the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after buying an additional 309 shares during the period. Point72 Asset Management L.P. acquired a new stake in ArcBest in the second quarter worth $37,000. Ancora Advisors LLC acquired a new stake in ArcBest in the first quarter worth $56,000. Point72 Hong Kong Ltd acquired a new stake in ArcBest in the second quarter worth $58,000. Finally, Tower Research Capital LLC TRC increased its position in ArcBest by 1,668.9% in the first quarter. Tower Research Capital LLC TRC now owns 796 shares of the transportation company’s stock worth $73,000 after buying an additional 751 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of 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 available at this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ARCB shares. JPMorgan Chase & Co. dropped their target price on ArcBest from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley raised their price target on ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on ArcBest in a report on Monday, January 29th. They set a “buy” rating and a $148.00 price target on the stock. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Finally, TD Cowen raised their price target on ArcBest from $141.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $146.38.

ArcBest Trading Down 0.5 %

Shares of NASDAQ:ARCB traded down $0.81 during midday trading on Tuesday, reaching $150.32. The company had a trading volume of 179,402 shares, compared to its average volume of 291,671. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26. ArcBest Co. has a 1-year low of $82.18 and a 1-year high of $153.60. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 0.62 and a beta of 1.49. The company has a fifty day simple moving average of $137.82 and a two-hundred day simple moving average of $121.21.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company posted $2.45 EPS. ArcBest’s revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts predict that ArcBest Co. will post 10.16 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.32%. ArcBest’s payout ratio is presently 6.07%.

About ArcBest

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.