Nisa Investment Advisors LLC Has $350,000 Holdings in ArcBest Co. (NASDAQ:ARCB)

Nisa Investment Advisors LLC grew its holdings in ArcBest Co. (NASDAQ:ARCB) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,225 shares of the transportation company’s stock after buying an additional 124 shares during the period. Nisa Investment Advisors LLC’s holdings in ArcBest were worth $350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Westwood Holdings Group Inc. raised its stake in ArcBest by 34.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after acquiring an additional 150,467 shares during the period. American Century Companies Inc. raised its position in shares of ArcBest by 4.0% in the second quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock valued at $56,267,000 after purchasing an additional 20,115 shares during the period. Marshall Wace LLP lifted its stake in shares of ArcBest by 158.7% during the 2nd quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock worth $20,558,000 after buying an additional 117,774 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of ArcBest by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock worth $16,141,000 after buying an additional 1,214 shares during the period. Finally, FAS Wealth Partners Inc. raised its holdings in ArcBest by 86.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 80,050 shares of the transportation company’s stock valued at $8,572,000 after acquiring an additional 37,073 shares during the period. 99.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ARCB. Citigroup assumed coverage on ArcBest in a report on Wednesday, October 9th. They set a “neutral” rating and a $111.00 price objective for the company. Morgan Stanley lowered their price objective on ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday. Wolfe Research downgraded ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Bank of America decreased their price target on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 4th. Finally, StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, ArcBest presently has an average rating of “Hold” and an average price target of $123.17.

Insider Transactions at ArcBest

In related news, Director Salvatore A. Abbate purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $103.93 per share, with a total value of $103,930.00. Following the acquisition, the director now owns 3,650 shares of the company’s stock, valued at $379,344.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.18% of the company’s stock.

ArcBest Stock Performance

Shares of ArcBest stock opened at $104.10 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.19 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.46 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.31 and a beta of 1.47. The company has a 50 day moving average of $104.48 and a 200-day moving average of $109.45. ArcBest Co. has a 1-year low of $94.76 and a 1-year high of $153.60.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $2.31 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities research analysts forecast that ArcBest Co. will post 6.89 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, November 13th. ArcBest’s dividend payout ratio is presently 5.93%.

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.