AE Wealth Management LLC Sells 2,356 Shares of ArcBest Co. (NASDAQ:ARCB)

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AE Wealth Management LLC lessened its holdings in shares of ArcBest Co. (NASDAQ:ARCBGet Rating) by 38.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,778 shares of the transportation company’s stock after selling 2,356 shares during the period. AE Wealth Management LLC’s holdings in ArcBest were worth $304,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ARCB. Bank of New York Mellon Corp raised its position in ArcBest by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 307,045 shares of the transportation company’s stock worth $25,107,000 after buying an additional 926 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in ArcBest by 17.2% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 30,121 shares of the transportation company’s stock worth $2,463,000 after buying an additional 4,431 shares during the last quarter. Aries Wealth Management purchased a new stake in shares of ArcBest during the 4th quarter valued at about $336,000. Capital CS Group LLC purchased a new stake in shares of ArcBest during the 4th quarter valued at about $555,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of ArcBest during the 4th quarter valued at about $204,000. Hedge funds and other institutional investors own 91.06% of the company’s stock.

NASDAQ:ARCB opened at $74.70 on Tuesday. The stock’s fifty day moving average is $74.01 and its 200 day moving average is $82.77. ArcBest Co. has a fifty-two week low of $52.86 and a fifty-two week high of $125.00. The firm has a market capitalization of $1.84 billion, a PE ratio of 7.62, a PEG ratio of 0.24 and a beta of 1.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.16.

ArcBest (NASDAQ:ARCBGet Rating) last released its quarterly earnings results on Friday, April 29th. The transportation company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.08 by $1.00. ArcBest had a return on equity of 29.28% and a net margin of 5.79%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. ArcBest’s quarterly revenue was up 61.0% compared to the same quarter last year. Equities analysts forecast that ArcBest Co. will post 13.54 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Wednesday, May 11th were given a dividend of $0.12 per share. This is an increase from ArcBest’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, May 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.64%. ArcBest’s dividend payout ratio is presently 4.90%.

Several research firms have weighed in on ARCB. StockNews.com began coverage on ArcBest in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Cowen reiterated a “buy” rating and set a $133.00 target price on shares of ArcBest in a research report on Monday, May 2nd. Bank of America downgraded ArcBest from a “buy” rating to a “neutral” rating and set a $76.00 target price for the company. in a research report on Friday, April 8th. Credit Suisse Group assumed coverage on ArcBest in a research report on Monday, June 27th. They set an “outperform” rating and a $102.00 target price for the company. Finally, Morgan Stanley lowered their target price on ArcBest to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, May 18th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.89.

ArcBest Profile (Get Rating)

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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