ArcBest Co. (NASDAQ:ARCB) Plans $0.12 Quarterly Dividend

ArcBest Co. (NASDAQ:ARCB) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Investors of record on Tuesday, February 11th will be paid a dividend of 0.12 per share by the transportation company on Tuesday, February 25th. This represents a $0.48 annualized dividend and a dividend yield of 0.49%.

ArcBest has raised its dividend payment by an average of 14.5% per year over the last three years. ArcBest has a dividend payout ratio of 4.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect ArcBest to earn $7.50 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 6.4%.

ArcBest Trading Down 1.9 %

Shares of ARCB traded down $1.94 during mid-day trading on Tuesday, reaching $98.31. The stock had a trading volume of 179,337 shares, compared to its average volume of 238,657. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 1.83 and a beta of 1.53. ArcBest has a 52-week low of $91.01 and a 52-week high of $153.60. The business’s fifty day moving average is $102.29 and its 200 day moving average is $106.30. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.20). The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the company earned $2.31 EPS. On average, sell-side analysts predict that ArcBest will post 6.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ARCB has been the topic of several research analyst reports. TD Cowen lowered ArcBest from a “buy” rating to a “hold” rating and decreased their price target for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. Jefferies Financial Group lowered their target price on ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. UBS Group lowered their price target on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group reduced their target price on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Wolfe Research cut shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and an average target price of $125.00.

Insider Buying and Selling at ArcBest

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the transaction, the director now directly owns 23,250 shares of the company’s stock, valued at $2,555,407.50. The trade was a 14.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the sale, the senior vice president now owns 5,051 shares of the company’s stock, valued at $609,150.60. This represents a 67.40 % decrease in their position. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by corporate insiders.

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.