3,268 Shares in ArcBest Co. (NASDAQ:ARCB) Purchased by Bryce Point Capital LLC

Bryce Point Capital LLC bought a new stake in shares of ArcBest Co. (NASDAQ:ARCB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,268 shares of the transportation company’s stock, valued at approximately $305,000.

Several other institutional investors have also bought and sold shares of ARCB. Blue Trust Inc. boosted its stake in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after purchasing an additional 177 shares during the period. R Squared Ltd purchased a new stake in ArcBest in the 4th quarter worth approximately $40,000. Smartleaf Asset Management LLC boosted its holdings in ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 453 shares during the period. KBC Group NV grew its position in shares of ArcBest by 34.9% during the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 297 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of ArcBest in the fourth quarter worth $206,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Analysts Set New Price Targets

ARCB has been the topic of several recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $116.00 price target on shares of ArcBest in a report on Tuesday, March 11th. Morgan Stanley reduced their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Truist Financial began coverage on ArcBest in a report on Thursday, March 13th. They set a “buy” rating and a $93.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on ArcBest from $126.00 to $108.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, Bank of America cut their price target on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and an average target price of $107.00.

ArcBest Price Performance

Shares of ARCB opened at $63.63 on Friday. ArcBest Co. has a fifty-two week low of $57.80 and a fifty-two week high of $153.61. The firm’s 50-day simple moving average is $81.99 and its two-hundred day simple moving average is $96.75. The stock has a market cap of $1.47 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $2.47 EPS. Analysts anticipate that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, February 11th. ArcBest’s dividend payout ratio is presently 6.55%.

Insider Buying and Selling

In other news, CFO John Matthew Beasley acquired 700 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the acquisition, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. The trade was a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.28% of the stock is currently owned by company insiders.

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.