Bryce Point Capital LLC Takes Position in ArcBest Co. (NASDAQ:ARCB)

Bryce Point Capital LLC bought a new position in ArcBest Co. (NASDAQ:ARCB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,268 shares of the transportation company’s stock, valued at approximately $305,000.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in shares of ArcBest by 29.3% in the third quarter. BNP Paribas Financial Markets now owns 12,521 shares of the transportation company’s stock worth $1,358,000 after acquiring an additional 2,839 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ArcBest by 16.0% in the third 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 purchasing an additional 16,103 shares during the last quarter. Centiva Capital LP bought a new position in shares of ArcBest in the 3rd quarter worth approximately $552,000. Holocene Advisors LP purchased a new position in shares of ArcBest in the third quarter worth approximately $808,000. Finally, State Street Corp grew its position in ArcBest by 1.9% during the third quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock valued at $103,831,000 after buying an additional 17,542 shares during the period. Institutional investors own 99.27% of the company’s stock.

Insider Activity at ArcBest

In other news, CFO John Matthew Beasley purchased 700 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were acquired 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 of the company’s stock, valued at $609,754.38. This represents a 9.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.28% of the stock is owned by company insiders.

ArcBest Stock Down 1.0 %

Shares of ARCB opened at $63.63 on Friday. ArcBest Co. has a 1 year low of $57.80 and a 1 year high of $153.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The business’s 50 day simple moving average is $81.99 and its 200-day simple moving average is $96.75. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.55.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 posted $2.47 earnings per share. As a group, equities analysts expect that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently declared 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 of this dividend was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. ArcBest’s payout ratio is 6.55%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Bank of America reduced their price target on ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a research report on Wednesday, March 12th. Stephens reaffirmed an “overweight” rating and set a $116.00 price objective on shares of ArcBest in a research report on Tuesday, March 11th. Citigroup reduced their target price on shares of ArcBest from $103.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Stifel Nicolaus lifted their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, ArcBest presently has an average rating of “Hold” and an average price target of $107.00.

ArcBest Company 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.