River Road Asset Management LLC lowered its holdings in Forward Air Corporation (NASDAQ:FWRD) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,745 shares of the transportation company’s stock after selling 25,140 shares during the period. River Road Asset Management LLC owned about 1,359,573.40% of Forward Air Corporation worth $23,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Riverhead Capital Management LLC grew its position in Forward Air Corporation by 72.5% in the second quarter. Riverhead Capital Management LLC now owns 1,897 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 797 shares in the last quarter. Huntington National Bank grew its position in 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 in the last quarter. Quantbot Technologies LP bought a new position in Forward Air Corporation in the second quarter valued at $117,000. US Bancorp DE grew its position in Forward Air Corporation by 22.6% in the second quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 445 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in Forward Air Corporation by 10.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,636 shares of the transportation company’s stock valued at $140,000 after purchasing an additional 246 shares in the last quarter. 98.38% of the stock is owned by institutional investors and hedge funds.

Shares of Forward Air Corporation (NASDAQ FWRD) traded up $0.33 during mid-day trading on Friday, reaching $56.09. 4,043 shares of the company’s stock were exchanged, compared to its average volume of 127,690. The firm has a market capitalization of $1,673.20, a PE ratio of 24.54 and a beta of 1.20. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08. Forward Air Corporation has a 12-month low of $43.88 and a 12-month high of $59.97.

Forward Air Corporation (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $280.20 million during the quarter, compared to analysts’ expectations of $278.75 million. Forward Air Corporation had a net margin of 6.10% and a return on equity of 13.76%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. research analysts expect that Forward Air Corporation will post 2.33 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 23rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Tuesday, November 21st. Forward Air Corporation’s dividend payout ratio is currently 28.17%.

In other news, Director George M. Lynch sold 1,640 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $57.00, for a total transaction of $93,480.00. Following the completion of the sale, the director now owns 12,383 shares in the company, valued at approximately $705,831. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael P. Mclean sold 4,984 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $54.82, for a total transaction of $273,222.88. Following the sale, the insider now owns 13,401 shares of the company’s stock, valued at approximately $734,642.82. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

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FWRD has been the subject of a number of analyst reports. BidaskClub downgraded shares of Forward Air Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Wolfe Research downgraded shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Cowen and Company reaffirmed a “hold” rating and issued a $51.00 target price on shares of Forward Air Corporation in a research report on Thursday, August 10th. Finally, KeyCorp reiterated a “hold” rating on shares of Forward Air Corporation in a research note on Friday, September 22nd. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Forward Air Corporation presently has a consensus rating of “Hold” and a consensus target price of $55.33.

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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