John G Ullman & Associates Inc. Reduces Stake in ArcBest Co. (NASDAQ:ARCB)

John G Ullman & Associates Inc. reduced its position in ArcBest Co. (NASDAQ:ARCB) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,675 shares of the transportation company’s stock after selling 300 shares during the period. John G Ullman & Associates Inc.’s holdings in ArcBest were worth $1,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of ArcBest by 1.9% in the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after buying an additional 17,542 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ArcBest by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after buying an additional 43,707 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of ArcBest by 92.3% in the 3rd quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock worth $1,166,000 after buying an additional 5,161 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ArcBest by 16.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after buying an additional 16,103 shares during the last quarter. Finally, Barclays PLC raised its holdings in ArcBest by 342.5% in the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after purchasing an additional 33,386 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Price Performance

NASDAQ:ARCB opened at $78.77 on Friday. ArcBest Co. has a 52 week low of $78.27 and a 52 week high of $153.60. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The business’s 50-day simple moving average is $93.92 and its two-hundred day simple moving average is $102.37. The stock has a market cap of $1.84 billion, a PE ratio of 10.75, a P/E/G ratio of 1.70 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) 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 previous year, the business earned $2.47 EPS. As a group, analysts forecast that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a $0.12 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.61%. ArcBest’s dividend payout ratio (DPR) is 6.55%.

Analysts Set New Price Targets

A number of brokerages recently commented on ARCB. JPMorgan Chase & Co. decreased their target price on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company decreased their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. UBS Group decreased their target price on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Citigroup raised their target price on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley decreased 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $118.91.

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.