Quantamental Technologies LLC reduced its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 50.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 986 shares of the transportation company’s stock after selling 1,005 shares during the quarter. Quantamental Technologies LLC’s holdings in Forward Air were worth $58,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Forward Air by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,296,860 shares of the transportation company’s stock valued at $71,133,000 after purchasing an additional 7,101 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Forward Air by 0.6% during the 1st quarter. Royce & Associates LP now owns 935,779 shares of the transportation company’s stock valued at $60,573,000 after purchasing an additional 5,698 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Forward Air by 42.6% during the 1st quarter. Clearbridge Investments LLC now owns 720,663 shares of the transportation company’s stock valued at $46,649,000 after purchasing an additional 215,206 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Forward Air by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 329,627 shares of the transportation company’s stock valued at $18,080,000 after purchasing an additional 16,689 shares in the last quarter. Finally, TD Asset Management Inc. lifted its holdings in shares of Forward Air by 4.3% during the 1st quarter. TD Asset Management Inc. now owns 314,800 shares of the transportation company’s stock valued at $20,377,000 after purchasing an additional 13,100 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.
In other Forward Air news, insider Glenn A. Adelaar sold 4,917 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $61.05, for a total value of $300,182.85. Following the sale, the insider now owns 41,177 shares in the company, valued at approximately $2,513,855.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.04% of the company’s stock.
Several research firms have recently weighed in on FWRD. Zacks Investment Research upgraded Forward Air from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. BidaskClub upgraded Forward Air from a “hold” rating to a “buy” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $70.00.
NASDAQ FWRD traded up $0.44 during trading on Friday, hitting $64.75. The stock had a trading volume of 1,183 shares, compared to its average volume of 132,617. The company has a market capitalization of $1.82 billion, a PE ratio of 20.76 and a beta of 1.54. The company’s 50-day moving average price is $61.28 and its two-hundred day moving average price is $61.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.41 and a current ratio of 1.41. Forward Air Co. has a 12 month low of $51.54 and a 12 month high of $72.81.
Forward Air (NASDAQ:FWRD) last released its earnings results on Thursday, July 25th. The transportation company reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.04). The firm had revenue of $345.76 million during the quarter, compared to the consensus estimate of $348.07 million. Forward Air had a net margin of 6.70% and a return on equity of 17.18%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. As a group, equities analysts anticipate that Forward Air Co. will post 3.2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Wednesday, August 21st. Forward Air’s payout ratio is 23.08%.
About Forward Air
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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