BlueCrest Capital Management Ltd purchased a new position in shares of Forward Air Co. (NASDAQ:FWRD) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,707 shares of the transportation company’s stock, valued at approximately $500,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Forward Air by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,214,199 shares of the transportation company’s stock valued at $69,488,000 after acquiring an additional 3,378 shares during the last quarter. River Road Asset Management LLC grew its holdings in Forward Air by 3.0% in the 4th quarter. River Road Asset Management LLC now owns 416,725 shares of the transportation company’s stock valued at $23,937,000 after buying an additional 11,980 shares during the last quarter. Dalton Greiner Hartman Maher & Co. grew its holdings in Forward Air by 4.3% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 319,830 shares of the transportation company’s stock valued at $18,371,000 after buying an additional 13,183 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Forward Air by 7.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 250,802 shares of the transportation company’s stock valued at $14,354,000 after buying an additional 17,340 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Forward Air by 1.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 206,448 shares of the transportation company’s stock valued at $11,859,000 after buying an additional 3,760 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.
In other Forward Air news, Director George M. Lynch sold 2,443 shares of Forward Air stock in a transaction on Monday, February 26th. The stock was sold at an average price of $55.47, for a total value of $135,513.21. Following the completion of the transaction, the director now owns 9,940 shares in the company, valued at approximately $551,371.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.40% of the stock is owned by company insiders.
Shares of NASDAQ:FWRD traded down $0.65 during trading on Friday, hitting $53.36. 269,023 shares of the stock were exchanged, compared to its average volume of 196,470. Forward Air Co. has a 1-year low of $46.35 and a 1-year high of $64.80. The firm has a market capitalization of $1,569.69, a PE ratio of 22.61 and a beta of 1.25. The company has a current ratio of 2.71, a quick ratio of 2.68 and a debt-to-equity ratio of 0.08.
Forward Air (NASDAQ:FWRD) last posted its earnings results on Wednesday, February 7th. The transportation company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The business had revenue of $306.10 million during the quarter, compared to the consensus estimate of $301.47 million. Forward Air had a return on equity of 13.91% and a net margin of 7.93%. Forward Air’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $0.58 EPS. sell-side analysts predict that Forward Air Co. will post 2.99 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Thursday, March 8th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.12%. Forward Air’s dividend payout ratio (DPR) is presently 25.42%.
A number of analysts have issued reports on FWRD shares. Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. BidaskClub lowered Forward Air from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Stephens reaffirmed a “buy” rating and issued a $80.00 target price on shares of Forward Air in a report on Wednesday, January 10th. Finally, Robert W. Baird raised Forward Air from a “neutral” rating to an “outperform” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $61.40.
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Forward Air Profile
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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