SG Americas Securities LLC bought a new stake in Forward Air Corporation (NASDAQ:FWRD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,970 shares of the transportation company’s stock, valued at approximately $158,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Arizona State Retirement System lifted its stake 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 valued at $750,000 after acquiring an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake 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 valued at $332,000 after acquiring an additional 110 shares during the last quarter. Huntington National Bank raised its position 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 valued at $117,000 after purchasing an additional 165 shares during the period. Texas Permanent School Fund raised its position 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 valued at $1,175,000 after purchasing an additional 173 shares during the period. Finally, First National Bank of Omaha raised its position in shares of Forward Air Corporation by 1.0% in the second quarter. First National Bank of Omaha now owns 31,319 shares of the transportation company’s stock valued at $1,669,000 after purchasing an additional 295 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

A number of research firms have recently commented on FWRD. BidaskClub lowered shares of Forward Air Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. KeyCorp reissued a “hold” rating on shares of Forward Air Corporation in a research report on Friday. Wolfe Research lowered shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Finally, Cowen and Company reissued a “hold” rating and issued a $51.00 price target on shares of Forward Air Corporation in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.25.

Forward Air Corporation (NASDAQ FWRD) opened at 54.75 on Friday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 28.63 and a beta of 1.07. The company’s 50-day moving average is $51.80 and its 200-day moving average is $51.05. 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 released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.58 by $0.06. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The company had revenue of $267.50 million during the quarter, compared to the consensus estimate of $256.98 million. During the same quarter in the prior year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that Forward Air Corporation will post $2.35 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Wednesday, August 23rd. Forward Air Corporation’s dividend payout ratio (DPR) is presently 31.25%.

In related news, CAO Michael P. Mclean sold 15,718 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.05, for a total value of $802,403.90. Following the sale, the chief accounting officer now owns 20,559 shares in the company, 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, CAO Michael P. Mclean sold 2,495 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $52.00, for a total value of $129,740.00. Following the completion of the sale, the chief accounting officer now owns 20,880 shares in the company, valued at approximately $1,085,760. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

WARNING: This piece was first reported by Daily Political and is owned by of Daily Political. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.dailypolitical.com/2017/09/23/sg-americas-securities-llc-takes-158000-position-in-forward-air-corporation-fwrd.html.

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.