Turner Investments LLC acquired a new position in shares of Forward Air Corporation (NASDAQ:FWRD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the transportation company’s stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its position in 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 worth $158,000 after buying an additional 30 shares during the period. Arizona State Retirement System boosted its position in Forward Air Corporation by 0.6% in the first quarter. Arizona State Retirement System now owns 15,773 shares of the transportation company’s stock worth $750,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in Forward Air Corporation by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,970 shares of the transportation company’s stock worth $332,000 after buying an additional 110 shares during the period. Huntington National Bank raised its stake in shares of Forward Air Corporation by 8.1% in the second quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock worth $117,000 after buying an additional 165 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in shares of Forward Air Corporation by 0.8% in the second quarter. Texas Permanent School Fund now owns 22,060 shares of the transportation company’s stock worth $1,175,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 98.36% of the company’s stock.

Shares of Forward Air Corporation (NASDAQ FWRD) opened at 50.75 on Tuesday. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 26.54 and a beta of 1.06. The company has a 50-day moving average of $52.41 and a 200-day moving average of $50.61. Forward Air Corporation has a 1-year low of $40.07 and a 1-year high of $56.52.

Forward Air Corporation (NASDAQ:FWRD) last released its earnings results on Wednesday, July 26th. The transportation company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.06. The company 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%. Forward Air Corporation’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. On average, equities research analysts expect that Forward Air Corporation will post $2.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a $0.15 dividend. 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 currently 31.25%.

TRADEMARK VIOLATION WARNING: This report was originally published by Daily Political and is owned by of Daily Political. If you are viewing this report on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The original version of this report can be accessed at https://www.dailypolitical.com/2017/08/22/turner-investments-llc-invests-266000-in-forward-air-corporation-fwrd.html.

FWRD has been the subject of a number of recent analyst reports. BidaskClub raised shares of Forward Air Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised shares of Forward Air Corporation from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Tuesday, May 16th. Stifel Nicolaus boosted their target price on shares of Forward Air Corporation from $46.00 to $47.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Cowen and Company reissued a “hold” rating and set a $51.00 target price on shares of Forward Air Corporation in a research note on Thursday, August 10th. Finally, Wolfe Research lowered shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $51.25.

In other news, Director C Robert Campbell sold 3,000 shares of Forward Air Corporation stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $53.58, for a total value of $160,740.00. Following the completion of the transaction, the director now owns 16,652 shares in the company, valued at approximately $892,214.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael P. Mclean sold 3,333 shares of Forward Air Corporation stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $52.00, for a total value of $173,316.00. Following the completion of the transaction, the chief accounting officer now owns 21,718 shares of the company’s stock, valued at approximately $1,129,336. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,831 shares of company stock valued at $2,836,938. 2.40% of the stock is currently owned by corporate insiders.

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.

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

Receive News & Ratings for Forward Air Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air Corporation and related companies with MarketBeat.com's FREE daily email newsletter.