BlackRock Amends ARCBEST Stake to 12.3% as of Dec 31, 2023
Ticker: ARCB · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 894405
| Field | Detail |
|---|---|
| Company | Arcbest CORP /De/ (ARCB) |
| Form Type | SC 13G/A |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns 12.3% of ArcBest, showing they're sticking with the trucking company.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 22, 2024, disclosing its ownership in ArcBest Corporation (ARCBEST CORP /DE/). As of December 31, 2023, BlackRock reported beneficial ownership of 3,091,847 shares of Common Stock, representing 12.3% of the company. This is an amendment, indicating a change from their previous filing, and shows BlackRock continues to be a significant institutional holder in the trucking company.
Why It Matters
This filing shows that a major institutional investor, BlackRock, maintains a substantial stake in ArcBest, signaling their continued confidence or strategic interest in the company's performance. For investors, it indicates that a large, sophisticated fund sees value in holding ARCBEST stock.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate significant risk or opportunity.
Analyst Insight
Investors should note BlackRock's continued substantial ownership as a sign of institutional confidence, but also monitor future filings for any significant changes in their stake, which could signal a shift in their outlook on ArcBest.
Key Numbers
- 3,091,847 — Shares Beneficially Owned (Represents BlackRock's total holding in ArcBest as of December 31, 2023.)
- 12.3% — Percentage of Class (Indicates BlackRock's significant ownership stake in ArcBest.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- ARCBEST CORP /DE/ (company) — the subject company, a trucking firm
- 3,091,847 shares (dollar_amount) — the number of shares beneficially owned by BlackRock
- 12.3% (dollar_amount) — the percentage of ArcBest's common stock owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- BlackRock will likely maintain a significant stake in ArcBest for the foreseeable future. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No: 1) by BlackRock Inc. to update its beneficial ownership of Common Stock in ARCBEST CORPORATION, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing and what is their business address?
The reporting person is BlackRock Inc., and their business address is 50 HUDSON YARDS, NEW YORK, NY 10001.
What is the subject company and its primary business classification?
The subject company is ARCBEST CORP /DE/, and its Standard Industrial Classification is TRUCKING (NO LOCAL) [4213].
As of what date did the event requiring this filing occur?
The event which requires the filing of this statement occurred on December 31, 2023.
How many shares of ArcBest Common Stock does BlackRock Inc. beneficially own, and what percentage does this represent?
BlackRock Inc. beneficially owns 3,091,847 shares of ArcBest Common Stock, which represents 12.3% of the class of securities.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding ARCBEST CORP /DE/ (ARCB).