Thrivent Financial for Lutherans Has $1.69 Million Position in ArcBest Co. (NASDAQ:ARCB)

Thrivent Financial for Lutherans reduced its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,134 shares of the transportation company’s stock after selling 482 shares during the period. Thrivent Financial for Lutherans’ holdings in ArcBest were worth $1,692,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ARCB. JPMorgan Chase & Co. lifted its position in ArcBest by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock valued at $24,022,000 after acquiring an additional 43,707 shares in the last quarter. Barclays PLC raised its stake in shares of ArcBest by 342.5% in the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock valued at $4,678,000 after purchasing an additional 33,386 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ArcBest by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock valued at $44,927,000 after purchasing an additional 21,905 shares in the last quarter. Citigroup Inc. boosted its position in shares of ArcBest by 91.1% during the third quarter. Citigroup Inc. now owns 45,313 shares of the transportation company’s stock worth $4,914,000 after buying an additional 21,606 shares during the period. Finally, State Street Corp grew its holdings in shares of ArcBest by 1.9% during the third quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after buying an additional 17,542 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

Insider Activity

In other news, CFO John Matthew Beasley acquired 700 shares of ArcBest stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the transaction, the chief financial officer now directly owns 8,142 shares of the company’s stock, valued at approximately $609,754.38. The trade was a 9.41 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is currently owned by corporate insiders.

ArcBest Stock Down 3.8 %

ARCB opened at $70.80 on Friday. The stock has a market cap of $1.64 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $85.12 and its 200 day simple moving average is $97.89. ArcBest Co. has a 1-year low of $68.83 and a 1-year high of $153.61.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter last year, the firm posted $2.47 EPS. As a group, research analysts expect that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, February 11th. ArcBest’s payout ratio is 6.55%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARCB. Morgan Stanley reduced their price target on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Truist Financial started coverage on shares of ArcBest in a research report on Thursday, March 13th. They issued a “buy” rating and a $93.00 target price for the company. Wells Fargo & Company cut their price target on shares of ArcBest from $96.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday. Bank of America decreased their price objective on ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a report on Wednesday, March 12th. Finally, UBS Group lowered their target price on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $107.00.

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.