Swiss National Bank grew its holdings in Forward Air Co. (NASDAQ:FWRD) by 3.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 51,600 shares of the transportation company’s stock after buying an additional 1,800 shares during the period. Swiss National Bank owned 0.17% of Forward Air worth $2,964,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in FWRD. Everence Capital Management Inc. acquired a new stake in shares of Forward Air in the fourth quarter valued at approximately $218,000. Stevens Capital Management LP purchased a new position in shares of Forward Air during the third quarter valued at approximately $239,000. Meeder Asset Management Inc. lifted its stake in shares of Forward Air by 36.3% during the fourth quarter. Meeder Asset Management Inc. now owns 4,613 shares of the transportation company’s stock valued at $265,000 after buying an additional 1,228 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Forward Air during the third quarter valued at approximately $306,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Forward Air by 147.1% during the fourth quarter. Acadian Asset Management LLC now owns 6,784 shares of the transportation company’s stock valued at $390,000 after buying an additional 4,038 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.
Forward Air Co. (NASDAQ FWRD) traded down $0.41 during mid-day trading on Wednesday, hitting $55.47. 161,910 shares of the company’s stock were exchanged, compared to its average volume of 255,804. Forward Air Co. has a one year low of $45.86 and a one year high of $64.80. The company has a market cap of $1,656.14, a P/E ratio of 23.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.71 and a quick ratio of 2.68.
Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $301.47 million. Forward Air had a net margin of 7.93% and a return on equity of 13.91%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS. sell-side analysts anticipate that Forward Air Co. will post 3.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Thursday, March 8th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, March 7th. Forward Air’s dividend payout ratio is currently 20.76%.
A number of equities analysts have weighed in on the stock. Stephens reaffirmed a “buy” rating and set a $80.00 price target on shares of Forward Air in a research note on Wednesday, January 10th. Zacks Investment Research lowered shares of Forward Air from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub lowered shares of Forward Air from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 21st. Finally, Robert W. Baird raised shares of Forward Air from a “neutral” rating to an “outperform” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $61.40.
In related news, Director George M. Lynch sold 2,443 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $55.47, for a total transaction of $135,513.21. Following the completion of the sale, the director now directly owns 9,940 shares in the company, valued at $551,371.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.
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Forward Air 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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