Comerica Bank trimmed its holdings in Forward Air Co. (NASDAQ:FWRD) by 59.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,641 shares of the transportation company’s stock after selling 41,761 shares during the quarter. Comerica Bank owned 0.10% of Forward Air worth $1,820,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BlackRock Inc. raised its position in shares of Forward Air by 8.3% in the second quarter. BlackRock Inc. now owns 4,070,423 shares of the transportation company’s stock worth $240,480,000 after acquiring an additional 312,075 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Forward Air by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,295,515 shares of the transportation company’s stock worth $76,539,000 after acquiring an additional 27,013 shares during the period. Victory Capital Management Inc. raised its position in shares of Forward Air by 18.8% in the third quarter. Victory Capital Management Inc. now owns 1,192,218 shares of the transportation company’s stock worth $85,482,000 after acquiring an additional 188,810 shares during the period. Northern Trust Corp raised its position in shares of Forward Air by 1.2% in the second quarter. Northern Trust Corp now owns 443,451 shares of the transportation company’s stock worth $26,200,000 after acquiring an additional 5,175 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. raised its position in shares of Forward Air by 19.8% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 433,523 shares of the transportation company’s stock worth $31,084,000 after acquiring an additional 71,695 shares during the period. 95.96% of the stock is currently owned by institutional investors.

In related news, Chairman Bruce A. Campbell sold 8,627 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $65.57, for a total transaction of $565,672.39. Following the completion of the transaction, the chairman now owns 137,866 shares in the company, valued at approximately $9,039,873.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George M. Lynch sold 1,965 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $60.52, for a total transaction of $118,921.80. Following the transaction, the director now owns 9,972 shares of the company’s stock, valued at approximately $603,505.44. The disclosure for this sale can be found here. 1.95% of the stock is owned by corporate insiders.

Shares of Forward Air stock opened at $65.28 on Friday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 27.66 and a beta of 1.52. Forward Air Co. has a fifty-two week low of $51.00 and a fifty-two week high of $72.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.66 and a quick ratio of 2.66.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Forward Air had a net margin of 7.85% and a return on equity of 15.63%. The firm had revenue of $331.38 million during the quarter, compared to the consensus estimate of $327.81 million. On average, sell-side analysts predict that Forward Air Co. will post 3.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, November 21st. This is an increase from Forward Air’s previous quarterly dividend of $0.15. Forward Air’s dividend payout ratio is 30.51%.

A number of brokerages have weighed in on FWRD. BidaskClub downgraded shares of Forward Air from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Stifel Nicolaus set a $68.00 price objective on shares of Forward Air and gave the stock a “hold” rating in a research report on Thursday, October 25th. Zacks Investment Research downgraded shares of Forward Air from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Stephens downgraded shares of Forward Air from an “overweight” rating to an “equal” rating and decreased their price objective for the stock from $74.00 to $67.00 in a research report on Monday, October 29th. Finally, ValuEngine downgraded shares of Forward Air from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $68.75.

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About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

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

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