KLP Kapitalforvaltning AS Takes $439,000 Position in ArcBest Co. (NASDAQ:ARCB)

KLP Kapitalforvaltning AS purchased a new position in shares of ArcBest Co. (NASDAQ:ARCB) during the fourth quarter, HoldingsChannel reports. The firm purchased 4,700 shares of the transportation company’s stock, valued at approximately $439,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ARCB. State Street Corp raised its position 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 purchasing an additional 17,542 shares during the period. American Century Companies Inc. increased its stake in ArcBest by 16.3% during the 4th quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company’s stock valued at $57,758,000 after purchasing an additional 86,867 shares in the last quarter. Geode Capital Management LLC increased its stake in ArcBest by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company’s stock valued at $59,856,000 after purchasing an additional 3,475 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ArcBest by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 426,155 shares of the transportation company’s stock worth $39,769,000 after buying an additional 11,894 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of ArcBest by 6.0% in the fourth quarter. Victory Capital Management Inc. now owns 232,627 shares of the transportation company’s stock valued at $21,709,000 after buying an additional 13,152 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

Insiders Place Their Bets

In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the transaction, the chief financial officer now directly owns 8,142 shares of the company’s stock, valued at $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.28% of the company’s stock.

ArcBest Trading Down 1.0 %

NASDAQ ARCB opened at $63.63 on Friday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 1.70 and a beta of 1.55. The business’s fifty day moving average is $81.99 and its 200-day moving average is $96.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. ArcBest Co. has a one year low of $57.80 and a one year high of $153.61.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period last year, the business earned $2.47 EPS. Equities research analysts predict that ArcBest Co. will post 7 EPS for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is 6.55%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group decreased their target price on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on ArcBest from $96.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Morgan Stanley dropped their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. The Goldman Sachs Group decreased their price target on ArcBest from $126.00 to $108.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Truist Financial assumed coverage on ArcBest in a research note on Thursday, March 13th. They set a “buy” rating and a $93.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, ArcBest currently has a consensus rating of “Hold” and an average target price of $107.00.

ArcBest Company Profile

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.