Nuveen Asset Management LLC increased its stake in shares of ArcBest Co. (NASDAQ:ARCB – Get Rating) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 359,212 shares of the transportation company’s stock after purchasing an additional 4,453 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.47% of ArcBest worth $26,126,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. Captrust Financial Advisors boosted its holdings in shares of ArcBest by 3.5% during the second quarter. Captrust Financial Advisors now owns 3,976 shares of the transportation company’s stock worth $280,000 after purchasing an additional 136 shares during the period. Assetmark Inc. raised its position in ArcBest by 103.3% during the second quarter. Assetmark Inc. now owns 374 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Money Concepts Capital Corp raised its position in ArcBest by 6.9% during the third quarter. Money Concepts Capital Corp now owns 3,072 shares of the transportation company’s stock valued at $223,000 after acquiring an additional 197 shares in the last quarter. Towle & Co raised its position in ArcBest by 2.4% during the third quarter. Towle & Co now owns 9,780 shares of the transportation company’s stock valued at $711,000 after acquiring an additional 230 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in ArcBest by 13.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,737 shares of the transportation company’s stock valued at $220,000 after acquiring an additional 314 shares in the last quarter. 88.59% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $138.00 price objective on shares of ArcBest in a research report on Monday, February 13th. Cowen raised their price objective on shares of ArcBest from $124.00 to $127.00 in a research report on Monday, February 6th. StockNews.com lowered shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Monday, February 6th. Finally, Credit Suisse Group raised their price objective on shares of ArcBest from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, February 6th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, ArcBest has a consensus rating of “Moderate Buy” and an average target price of $114.13.
ArcBest Trading Up 2.4 %
ArcBest (NASDAQ:ARCB – Get Rating) last announced its earnings results on Friday, February 3rd. The transportation company reported $2.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.19). ArcBest had a return on equity of 32.17% and a net margin of 5.60%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm posted $2.79 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that ArcBest Co. will post 10.57 EPS for the current year.
ArcBest Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, February 13th. ArcBest’s dividend payout ratio (DPR) is currently 4.12%.
About ArcBest
ArcBest Corp. is a logistics company which provides end-to-end supply chain services with a focus on innovation. It operates through the following business segments: Asset-Based, ArcBest and FleetNet. The Asset-Based segment includes national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services.
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