Parametric Portfolio Associates LLC raised its stake in shares of Forward Air Corporation (NASDAQ:FWRD) by 10.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,624 shares of the transportation company’s stock after purchasing an additional 6,761 shares during the period. Parametric Portfolio Associates LLC owned 0.23% of Forward Air Corporation worth $3,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of FWRD. Riverhead Capital Management LLC raised its position in Forward Air Corporation by 72.5% during the second quarter. Riverhead Capital Management LLC now owns 1,897 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 797 shares during the period. Huntington National Bank raised its position in Forward Air Corporation by 8.1% during the second quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock valued at $117,000 after purchasing an additional 165 shares during the period. Quantbot Technologies LP purchased a new stake in Forward Air Corporation during the second quarter valued at approximately $117,000. US Bancorp DE raised its position in Forward Air Corporation by 22.6% during the second quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 445 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Forward Air Corporation during the second quarter valued at approximately $158,000. Institutional investors and hedge funds own 96.20% of the company’s stock.

A number of equities research analysts have issued reports on FWRD shares. Stifel Nicolaus upped their price objective on Forward Air Corporation from $47.00 to $52.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Robert W. Baird restated a “hold” rating and set a $60.00 price objective on shares of Forward Air Corporation in a research report on Friday, October 6th. KeyCorp restated a “hold” rating on shares of Forward Air Corporation in a research report on Friday, September 22nd. Cowen and Company restated a “hold” rating and set a $51.00 price objective on shares of Forward Air Corporation in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Forward Air Corporation currently has a consensus rating of “Hold” and an average target price of $55.33.

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Shares of Forward Air Corporation (NASDAQ FWRD) opened at 57.09 on Tuesday. The stock has a market capitalization of $1.73 billion, a P/E ratio of 29.86 and a beta of 1.12. Forward Air Corporation has a one year low of $41.06 and a one year high of $59.97. The stock has a 50 day moving average price of $56.78 and a 200 day moving average price of $53.21.

Forward Air Corporation (NASDAQ:FWRD) last issued its earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. The business had revenue of $280.20 million for the quarter, compared to analysts’ expectations of $278.75 million. Forward Air Corporation had a return on equity of 13.76% and a net margin of 6.10%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. Equities analysts forecast that Forward Air Corporation will post $2.33 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 23rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Tuesday, November 21st. Forward Air Corporation’s dividend payout ratio is currently 28.17%.

In related news, CAO Michael P. Mclean sold 15,718 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.05, for a total value of $802,403.90. Following the transaction, the chief accounting officer now directly owns 20,559 shares in the company, valued at $1,049,536.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Mclean sold 4,984 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $54.82, for a total value of $273,222.88. Following the completion of the transaction, the insider now owns 13,401 shares in the company, valued at $734,642.82. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Forward Air Corporation Company Profile

Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.

Institutional Ownership by Quarter for Forward Air Corporation (NASDAQ:FWRD)

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