Rockefeller Capital Management L.P. Reduces $8M in ArcBest Corporation ($ARCB)
Key Points
- Rockefeller Capital Management L.P. changed its ArcBest Corporation ($ARCB) stake by 26.0% last quarter, cutting to 126,870 shares worth $21.91 million.
- Wall Street's consensus rating on $ARCB is Buy and an average price target of $148.64.
- $ARCB last traded around $172.67.
Rockefeller Capital Management L.P. reduced its position in ArcBest Corporation ($ARCB) by 26.0% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,870 shares of ArcBest Corporation after selling 44,664 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in ArcBest Corporation were worth $21.91 million as of its most recent filing.
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About ArcBest Corporation
ArcBest Corporation, an integrated logistics company, provides ground, air, and ocean transportation solutions worldwide. It operates in 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. This segment also offers motor carrier freight transportation services to customers in Mexico through arrangements with trucking companies. The Asset-Light segment provides ground expedite services; third-party transportation brokerage services by sourcing various capacity solutions, including dry van over-the-road, temperature-controlled and refrigerated, flatbed, intermodal or container shipping, and specialized equipment; less-than-container and full container load ocean transportation services; warehousing and distribution services; managed transportation services; and moving services to do-it-yourself' consumer, as well as final mile, time critical, product launch, retail logistics, supply chain optimization, brokered LTL, and trade show shipping services. This segment also offers premium logistics services, such as deployment of specialized equipment to meet linehaul requirements; and international freight transportation with air, ocean, and ground services. The company was formerly known as Arkansas Best Corporation and changed its name to ArcBest Corporation in May 2014. The company was founded in 1923 and is headquartered in Fort Smith, Arkansas.
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