Capstone Asset Management Co. cut its stake in Forward Air Corporation (NASDAQ:FWRD) by 11.2% during the second quarter, Holdings Channel reports. The fund owned 5,153 shares of the transportation company’s stock after selling 650 shares during the period. Capstone Asset Management Co.’s holdings in Forward Air Corporation were worth $275,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new position in shares of Forward Air Corporation during the first quarter valued at about $114,000. TrimTabs Asset Management LLC boosted its position in shares of Forward Air Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,482 shares of the transportation company’s stock valued at $118,000 after buying an additional 1,168 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Forward Air Corporation by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 3,340 shares of the transportation company’s stock valued at $158,000 after buying an additional 30 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Forward Air Corporation during the first quarter valued at about $206,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Forward Air Corporation during the first quarter valued at about $214,000. Hedge funds and other institutional investors own 98.36% of the company’s stock.

Forward Air Corporation (FWRD) traded up 1.98% during mid-day trading on Wednesday, reaching $52.01. The company had a trading volume of 25,835 shares. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 27.20 and a beta of 1.06. The firm’s 50 day moving average price is $52.66 and its 200-day moving average price is $50.53. Forward Air Corporation has a 12 month low of $40.07 and a 12 month high of $56.52.

Forward Air Corporation (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.06. The firm had revenue of $267.50 million during the quarter, compared to the consensus estimate of $256.98 million. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 EPS. Equities research analysts anticipate that Forward Air Corporation will post $2.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, August 23rd. Forward Air Corporation’s dividend payout ratio is presently 31.25%.

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Several brokerages have recently issued reports on FWRD. BidaskClub cut Forward Air Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Stifel Nicolaus raised their price objective on Forward Air Corporation from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Zacks Investment Research cut Forward Air Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Wolfe Research cut Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. Finally, Cowen and Company restated a “hold” rating and issued a $51.00 price objective on shares of Forward Air Corporation in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Forward Air Corporation has an average rating of “Hold” and a consensus price target of $51.25.

In other Forward Air Corporation 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 transaction of $802,403.90. Following the completion of the sale, the chief accounting officer now directly owns 20,559 shares of the company’s stock, valued at approximately $1,049,536.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Bruce A. Campbell sold 20,529 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $51.64, for a total value of $1,060,117.56. Following the sale, the chairman now directly owns 203,235 shares of the company’s stock, valued at $10,495,055.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,831 shares of company stock valued at $2,836,938. 2.40% of the stock is owned by company insiders.

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.

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

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