13,349 Shares in ArcBest Co. (NASDAQ:ARCB) Acquired by Heritage Oak Wealth Advisors LLC

Heritage Oak Wealth Advisors LLC bought a new stake in shares of ArcBest Co. (NASDAQ:ARCB) during the 3rd quarter, Holdings Channel reports. The firm bought 13,349 shares of the transportation company’s stock, valued at approximately $1,448,000.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after buying an additional 134 shares during the period. Innealta Capital LLC acquired a new position in shares of ArcBest in the 2nd quarter worth approximately $33,000. Quest Partners LLC bought a new stake in shares of ArcBest in the 2nd quarter worth approximately $36,000. Cultivar Capital Inc. bought a new position in shares of ArcBest in the second quarter valued at $43,000. Finally, Mather Group LLC. bought a new stake in shares of ArcBest during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Price Performance

Shares of ARCB traded up $2.84 during trading hours on Friday, hitting $104.44. The stock had a trading volume of 39,503 shares, compared to its average volume of 284,330. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 1.28 and a beta of 1.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19. ArcBest Co. has a 52 week low of $86.93 and a 52 week high of $153.60. The company’s fifty day moving average is $105.20 and its two-hundred day moving average is $112.34.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. ArcBest’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 EPS. On average, analysts anticipate that ArcBest Co. will post 7.06 EPS for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.46%. ArcBest’s dividend payout ratio (DPR) is currently 9.66%.

Insider Buying and Selling

In other news, Director Salvatore A. Abbate bought 1,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the transaction, the director now directly owns 3,650 shares in the company, valued at $379,344.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.65% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on ARCB shares. Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Jefferies Financial Group lowered their price objective on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Citigroup assumed coverage on shares of ArcBest in a research note on Wednesday, October 9th. They set a “neutral” rating and a $111.00 target price for the company. The Goldman Sachs Group dropped their price target on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Stephens restated an “overweight” rating and issued a $130.00 target price on shares of ArcBest in a research note on Wednesday, September 4th. One equities 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $126.92.

ArcBest 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.