Chatham Capital Group Inc. decreased its position in Forward Air Co. (NASDAQ:FWRD) by 1.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 28,376 shares of the transportation company’s stock after selling 290 shares during the period. Chatham Capital Group Inc. owned about 0.10% of Forward Air worth $1,837,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in FWRD. Morgan Stanley raised its position in Forward Air by 44.7% in the third quarter. Morgan Stanley now owns 111,946 shares of the transportation company’s stock valued at $8,027,000 after purchasing an additional 34,598 shares during the last quarter. Bank of Montreal Can raised its position in Forward Air by 13.2% in the fourth quarter. Bank of Montreal Can now owns 1,781 shares of the transportation company’s stock valued at $98,000 after purchasing an additional 208 shares during the last quarter. Tributary Capital Management LLC raised its position in Forward Air by 1.0% in the fourth quarter. Tributary Capital Management LLC now owns 386,196 shares of the transportation company’s stock valued at $21,183,000 after purchasing an additional 3,836 shares during the last quarter. Quantamental Technologies LLC bought a new position in Forward Air in the fourth quarter valued at about $99,000. Finally, Arizona State Retirement System raised its position in Forward Air by 5.6% in the fourth quarter. Arizona State Retirement System now owns 44,971 shares of the transportation company’s stock valued at $2,467,000 after purchasing an additional 2,396 shares during the last quarter. Institutional investors own 95.39% of the company’s stock.
Forward Air stock traded up $0.47 during mid-day trading on Friday, reaching $59.69. The stock had a trading volume of 186,438 shares, compared to its average volume of 158,312. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.73 and a current ratio of 1.73. Forward Air Co. has a fifty-two week low of $51.54 and a fifty-two week high of $72.81. The stock has a market capitalization of $1.70 billion, a PE ratio of 19.13 and a beta of 1.60.
Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. Forward Air had a return on equity of 16.88% and a net margin of 6.92%. The firm had revenue of $321.47 million during the quarter, compared to analysts’ expectations of $324.22 million. During the same quarter last year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts forecast that Forward Air Co. will post 3.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.21%. Forward Air’s dividend payout ratio (DPR) is presently 23.08%.
A number of equities analysts have recently issued reports on the company. BidaskClub downgraded Forward Air from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Zacks Investment Research downgraded Forward Air from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Deutsche Bank raised their target price on Forward Air from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, ValuEngine cut Forward Air from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $69.25.
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Forward Air Company Profile
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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