Sequoia Financial Advisors LLC Grows Stock Holdings in ArcBest Co. (NASDAQ:ARCB)

Sequoia Financial Advisors LLC increased its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,557 shares of the transportation company’s stock after purchasing an additional 315 shares during the period. Sequoia Financial Advisors LLC’s holdings in ArcBest were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after buying an additional 177 shares during the last quarter. R Squared Ltd purchased a new position in ArcBest during the fourth quarter valued at approximately $40,000. Quest Partners LLC lifted its holdings in ArcBest by 60.6% in the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 206 shares during the period. Smartleaf Asset Management LLC lifted its holdings in ArcBest by 471.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 453 shares during the period. Finally, Avior Wealth Management LLC grew its stake in shares of ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after purchasing an additional 95 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Stock Down 4.5 %

NASDAQ ARCB opened at $72.45 on Wednesday. The business has a fifty day moving average price of $89.16 and a 200 day moving average price of $99.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The company has a market cap of $1.68 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.70 and a beta of 1.54. ArcBest Co. has a one year low of $70.96 and a one year high of $153.61.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business earned $2.47 earnings per share. Research analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal 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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is 6.55%.

Insider Activity

In other news, CFO John Matthew Beasley purchased 700 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $74.89 per share, with a total value of $52,423.00. Following the transaction, the chief financial officer now owns 8,142 shares in the company, valued at $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 at this hyperlink. Company insiders own 1.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Stephens reissued an “overweight” rating and set a $116.00 target price on shares of ArcBest in a research note on Tuesday, March 11th. Truist Financial assumed coverage on ArcBest in a research note on Thursday, March 13th. They issued a “buy” rating and a $93.00 price target for the company. Citigroup lowered their price target on ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Bank of America cut their price objective on ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $108.33.

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.