Algert Global LLC lowered its holdings in Forward Air Co. (NASDAQ:FWRD) by 37.8% in the first quarter, HoldingsChannel reports. The firm owned 11,487 shares of the transportation company’s stock after selling 6,972 shares during the quarter. Algert Global LLC’s holdings in Forward Air were worth $744,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FWRD. Bank of New York Mellon Corp grew its holdings in shares of Forward Air by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 434,869 shares of the transportation company’s stock valued at $31,180,000 after purchasing an additional 5,665 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Forward Air by 178.8% in the third quarter. AQR Capital Management LLC now owns 20,686 shares of the transportation company’s stock valued at $1,483,000 after purchasing an additional 13,267 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Forward Air by 2.0% in the third quarter. Teachers Advisors LLC now owns 84,050 shares of the transportation company’s stock valued at $6,026,000 after purchasing an additional 1,688 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Forward Air by 7.3% in the third quarter. Legal & General Group Plc now owns 69,484 shares of the transportation company’s stock valued at $4,932,000 after purchasing an additional 4,718 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Forward Air by 44.7% in the third quarter. Morgan Stanley now owns 111,946 shares of the transportation company’s stock valued at $8,027,000 after purchasing an additional 34,598 shares in the last quarter. Hedge funds and other institutional investors own 97.33% of the company’s stock.

Several research analysts have commented on FWRD shares. BidaskClub cut shares of Forward Air from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. ValuEngine upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Zacks Investment Research upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a report on Monday, January 14th. Finally, Deutsche Bank boosted their price target on shares of Forward Air from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Forward Air currently has a consensus rating of “Hold” and a consensus target price of $69.25.

NASDAQ FWRD opened at $64.05 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.09. Forward Air Co. has a 52 week low of $51.54 and a 52 week high of $72.81. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 20.53 and a beta of 1.59.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Forward Air had a net margin of 6.92% and a return on equity of 16.88%. The company had revenue of $321.47 million during the quarter, compared to analysts’ expectations of $324.22 million. During the same quarter in the previous year, the business posted $0.60 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, research analysts expect that Forward Air Co. will post 3.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, May 23rd. Forward Air’s dividend payout ratio (DPR) is presently 23.08%.

In other news, Chairman Bruce A. Campbell sold 8,240 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $65.20, for a total transaction of $537,248.00. Following the completion of the sale, the chairman now owns 93,732 shares in the company, valued at approximately $6,111,326.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chris C. Ruble sold 7,926 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $65.12, for a total transaction of $516,141.12. Following the sale, the chief operating officer now owns 31,489 shares of the company’s stock, valued at approximately $2,050,563.68. The disclosure for this sale can be found here. Insiders have sold a total of 43,087 shares of company stock valued at $2,842,670 in the last quarter. 2.04% of the stock is currently owned by company insiders.

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

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