Allianz Asset Management GmbH bought a new stake in shares of Forward Air Co. (NASDAQ:FWRD) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,305 shares of the transportation company’s stock, valued at approximately $1,105,000. Allianz Asset Management GmbH owned 0.06% of Forward Air at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Pinebridge Investments L.P. lifted its position in Forward Air by 0.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,980 shares of the transportation company’s stock valued at $212,000 after purchasing an additional 36 shares during the period. Public Employees Retirement System of Ohio lifted its position in Forward Air by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 56,848 shares of the transportation company’s stock valued at $3,029,000 after purchasing an additional 175 shares during the period. Ameritas Investment Partners Inc. lifted its position in Forward Air by 10.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,636 shares of the transportation company’s stock valued at $140,000 after purchasing an additional 246 shares during the period. The Manufacturers Life Insurance Company lifted its position in Forward Air by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,271 shares of the transportation company’s stock valued at $1,239,000 after purchasing an additional 270 shares during the period. Finally, CS Mckee LP lifted its position in Forward Air by 0.9% during the 2nd quarter. CS Mckee LP now owns 32,300 shares of the transportation company’s stock valued at $1,721,000 after purchasing an additional 300 shares during the period. Institutional investors own 95.70% of the company’s stock.

In related news, Chairman Bruce A. Campbell sold 28,744 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.25, for a total transaction of $1,616,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris C. Ruble sold 23,020 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $57.75, for a total value of $1,329,405.00. Following the sale, the insider now directly owns 28,279 shares of the company’s stock, valued at $1,633,112.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,549 shares of company stock valued at $5,250,836. 2.40% of the stock is owned by company insiders.

Shares of Forward Air Co. (FWRD) opened at $58.10 on Thursday. The firm has a market cap of $1,717.56, a P/E ratio of 27.28 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.71 and a quick ratio of 2.71. Forward Air Co. has a 52-week low of $45.86 and a 52-week high of $59.97.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. The business had revenue of $280.20 million for the quarter, compared to the consensus estimate of $278.75 million. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. Forward Air’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. research analysts predict that Forward Air Co. will post 2.33 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Thursday, November 23rd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. Forward Air’s payout ratio is 28.17%.

A number of research firms have issued reports on FWRD. Zacks Investment Research downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Wednesday. Cowen reiterated a “market perform” rating and issued a $54.00 price target (up from $51.00) on shares of Forward Air in a research report on Monday, October 30th. Robert W. Baird reiterated a “hold” rating and issued a $60.00 price target on shares of Forward Air in a research report on Friday, October 6th. KeyCorp reiterated a “hold” rating on shares of Forward Air in a research report on Friday, September 22nd. Finally, Stifel Nicolaus increased their price target on shares of Forward Air from $47.00 to $52.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $55.33.

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Forward Air 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 (NASDAQ:FWRD)

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