Voya Investment Management LLC increased its holdings in shares of Forward Air Corporation (NASDAQ:FWRD) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,706 shares of the transportation company’s stock after buying an additional 1,346 shares during the quarter. Voya Investment Management LLC’s holdings in Forward Air Corporation were worth $730,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Riverhead Capital Management LLC lifted its position in shares of Forward Air Corporation by 72.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,897 shares of the transportation company’s stock worth $101,000 after buying an additional 797 shares during the last quarter. Huntington National Bank lifted its position in shares of Forward Air Corporation by 8.1% during the 2nd quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock worth $117,000 after buying an additional 165 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Forward Air Corporation during the 2nd quarter worth $117,000. US Bancorp DE lifted its position in shares of Forward Air Corporation by 22.6% during the 2nd quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock worth $129,000 after buying an additional 445 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Forward Air Corporation during the 2nd quarter worth $158,000. Institutional investors and hedge funds own 96.20% of the company’s stock.

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

Forward Air Corporation (NASDAQ FWRD) opened at 57.44 on Wednesday. Forward Air Corporation has a one year low of $41.06 and a one year high of $59.97. The firm has a market cap of $1.74 billion, a PE ratio of 30.04 and a beta of 1.12. The firm has a 50-day moving average price of $56.90 and a 200-day moving average price of $53.24.

Forward Air Corporation (NASDAQ:FWRD) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. Forward Air Corporation had a return on equity of 13.76% and a net margin of 6.10%. The firm had revenue of $280.20 million during the quarter, compared to analyst estimates of $278.75 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts expect that Forward Air Corporation will post $2.32 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 21st. Forward Air Corporation’s dividend payout ratio (DPR) is currently 28.17%.

FWRD has been the subject of several recent analyst reports. BidaskClub downgraded Forward Air Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. KeyCorp restated a “hold” rating on shares of Forward Air Corporation in a research report on Friday, September 22nd. 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. Zacks Investment Research downgraded Forward Air Corporation from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Finally, Wolfe Research downgraded Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.33.

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About Forward Air Corporation

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.

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

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