New York State Common Retirement Fund increased its stake in ArcBest Corporation (NASDAQ:ARCB) by 1.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,088 shares of the transportation company’s stock after acquiring an additional 897 shares during the quarter. New York State Common Retirement Fund owned approximately 0.23% of ArcBest Corporation worth $1,197,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of ArcBest Corporation by 18,670.6% during the first quarter. BlackRock Inc. now owns 3,328,407 shares of the transportation company’s stock valued at $86,539,000 after buying an additional 3,310,675 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of ArcBest Corporation by 6.2% during the first quarter. Vanguard Group Inc. now owns 2,133,187 shares of the transportation company’s stock valued at $55,462,000 after buying an additional 124,009 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of ArcBest Corporation by 26.0% during the second quarter. Ameriprise Financial Inc. now owns 524,005 shares of the transportation company’s stock valued at $10,792,000 after buying an additional 108,200 shares in the last quarter. Eagle Boston Investment Management Inc. grew its holdings in shares of ArcBest Corporation by 39.4% during the second quarter. Eagle Boston Investment Management Inc. now owns 299,844 shares of the transportation company’s stock valued at $6,176,000 after buying an additional 84,764 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its holdings in shares of ArcBest Corporation by 1,508.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 87,350 shares of the transportation company’s stock valued at $1,799,000 after buying an additional 81,920 shares in the last quarter. Institutional investors and hedge funds own 85.17% of the company’s stock.

In related news, insider Daniel E. Loe sold 9,929 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $25.87, for a total value of $256,863.23. Following the completion of the sale, the insider now owns 33,600 shares in the company, valued at approximately $869,232. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael R. Johns sold 6,593 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $29.98, for a total transaction of $197,658.14. Following the completion of the sale, the vice president now owns 35,700 shares of the company’s stock, valued at approximately $1,070,286. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,210 shares of company stock valued at $665,376. 0.97% of the stock is owned by corporate insiders.

A number of brokerages have recently weighed in on ARCB. Cowen and Company downgraded ArcBest Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Stifel Nicolaus reiterated a “hold” rating and set a $28.00 price target on shares of ArcBest Corporation in a report on Thursday, September 21st. Deutsche Bank AG reiterated a “hold” rating and set a $29.00 price target (up previously from $26.00) on shares of ArcBest Corporation in a report on Wednesday, August 9th. TheStreet upgraded ArcBest Corporation from a “c” rating to a “b-” rating in a report on Friday, July 28th. Finally, Zacks Investment Research downgraded ArcBest Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 9th. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. The company has an average rating of “Hold” and an average target price of $28.83.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Monday, November 13th. ArcBest Corporation’s dividend payout ratio is currently 37.21%.

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ArcBest Corporation Company Profile

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

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Institutional Ownership by Quarter for ArcBest Corporation (NASDAQ:ARCB)

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