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Allspring Global Investments Holdings LLC disposes of 46,378 ArcBest Co. shares (NASDAQ:ARCB)

Allspring Global Investments Holdings LLC disposes of 46,378 ArcBest Co. shares (NASDAQ:ARCB)

According to the most recent SEC filing that the company has made, during the third quarter of 2018, Allspring Global Investments Holdings LLC reduced its holdings of ArcBest Co. (NASDAQ: ARCB) by 38.2%. Following the sale of 46,378 shares of the transportation company’s stock throughout the quarter, the fund was left with 75,041 shares of the company’s stock. According to the most recent filing that Allspring Global Investments Holdings LLC made with the SEC, the company owned approximately 0.31% of ArcBest, which had a market value of $5,457,000 at the time of the filing.

The amount of the company’s stock that hedge funds and other institutional investors held in their portfolios was recently adjusted due to recent market events. During the second quarter, Assetmark Inc. increased the percentage of ArcBest stock that it held in its portfolio by 103.3%. Assetmark Inc. now has 374 shares in the transportation company after purchasing an additional 190 shares during the most recent quarter. The value of Assetmark Inc.’s shares in the transportation company is currently $26,000. As part of their expansion into a new position, Wipfli Financial Advisors LLC invested in ArcBest in the amount of $28,000 during the third quarter. During the first three months of 2018, Ancora Advisors LLC acquired a new holding in ArcBest that was estimated to be worth approximately $56,000 at the time of the acquisition. During the second quarter, approximately $58,000 was spent by Point72 Hong Kong Ltd. to acquire additional shares of ArcBest.

Last but not least, during the second quarter, Counterpoint Mutual Funds LLC made a 50.7% increase in the amount of ArcBest stock that it owned, making it the company’s largest single stock holding. After making an additional purchase of 516 shares during the period, Counterpoint Mutual Funds LLC now has 1,533 shares of the transportation company’s stock, which are currently valued at $108,000. This is because, during the period, Counterpoint Mutual Funds LLC purchased additional shares of the company. Most of the company’s stock is held in institutional ownership, accounting for 88.59 percent of the total.

Daniel E. Loe, an employee of the company who was on the inside, sold 7,555 shares of the company’s stock on November 10. Thursday was the day that the transaction took place. The price paid for each share was an average of $81.14, and the total amount received from the sale of the shares was $613,012.70. Because of the transaction, the company insider now directly owns 26,615 shares of the company’s stock, which have a combined value of $2,159,541.10. The Securities and Exchange Commission was given legal documentation about the transaction, which can be viewed entirely by following the link provided in the previous sentence. The documentation was provided to the SEC. 1.68 company insiders own a percent of the total shares currently outstanding.

NASDAQ ARCB shares were first made available for trading on Tuesday for $78.10 per share. The moving average of the company’s stock price over the past 50 days is $77.07, and the moving average of its stock price over the last 200 days is $78.43. The debt-to-equity ratio is 0.17, the current ratio is 1.32, and the quick ratio is also 1.32. The debt-to-equity, current, and quick ratios all come at the same value. The company’s current valuation of $1.91 billion is based on several metrics, including its price-to-earnings ratio of 6.17, its earnings growth price-to-earnings ratio of 0.38, and its beta of 1.56 contribute to the figure. ArcBest Co. has seen its stock price go as low as $65.15 over the past year, reaching a high of $98.95 over the same period.

On November 1, ArcBest released its most recent quarterly earnings report. ArcBest is a company that trades on the NASDAQ under the symbol ARCB. The transportation company reported earnings per share for the quarter of $3.80, which is $0.05 higher than the average estimate of $3.75. ArcBest had a return on equity of 35.11 percent, and the company’s net margin was 6.20 percent. The company’s revenue came in at $1.35 billion for the quarter, significantly higher than the average prediction of $1.34 billion made by financial analysts. Compared to the previous year’s results for the same quarter, the company’s earnings per share came in at $2.59. The revenue brought in during the third quarter was up 33.0% year over year. According to the projections by research analysts for the upcoming year, the ArcBest Company is expected to generate earnings of 13.87 cents per share.

In addition, the business just recently announced a quarterly dividend distribution, which took place on November 25 and was paid out to shareholders. On November 11, a dividend payment of $0.12 was made to shareholders on record when the dividend was declared. As a direct result, the dividend payment is calculated to be $0.48 per year, and the yield is calculated to be 0.61%. Before November 9, it was considered that this dividend had already been distributed. ArcBest has a dividend payout ratio (DPR) that is currently 3.79 percent as of right now.

ARCB has been the focus of research conducted by various analysts in their respective fields. In a research note published on October 12, the coverage universe of StockNews.com was expanded to include ArcBest shares listed on October 12, the coverage universe of StockNews.com was expanded to include ArcBest shares. They suggested that an interested party purchase the company. Citigroup decreased its price target on ArcBest shares from $94.00 to $90.00 in a research note published on Friday, October 7. Despite this change, the firm maintained its “buy” rating on its stock. In a research note published on November 2, Credit Suisse Group announced that they were increasing their price target for ArcBest from $87:00 to $92.00. The firm also recommended that investors purchase the company’s stock and assign it the rating of “outperform” for its performance. In a research note published on January 11, Morgan Stanley downgraded their “overweight” rating on the shares of ArcBest to “underweight” and reduced their price objective on the shares of ArcBest from $139.00 to $138.00. There are a total of eight analysts who have provided a buy recommendation on the stock, while there are only two analysts who have provided a hold recommendation on the stock. The current average rating for ArcBest is “Moderate Buy,” The price target has been set at $113.56, according to the data provided by Bloomberg.

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