Summit Global Investments boosted its stake in shares of Forward Air Corporation (NASDAQ:FWRD) by 9.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,300 shares of the transportation company’s stock after acquiring an additional 800 shares during the period. Summit Global Investments’ holdings in Forward Air Corporation were worth $496,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Arizona State Retirement System increased its stake in Forward Air Corporation by 0.6% during the 1st quarter. Arizona State Retirement System now owns 15,773 shares of the transportation company’s stock worth $750,000 after acquiring an additional 100 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Forward Air Corporation by 1.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 6,970 shares of the transportation company’s stock worth $332,000 after acquiring an additional 110 shares during the period. Huntington National Bank increased its stake in Forward Air Corporation by 8.1% during the 2nd quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock worth $117,000 after acquiring an additional 165 shares during the period. Texas Permanent School Fund increased its stake in Forward Air Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 22,060 shares of the transportation company’s stock worth $1,175,000 after acquiring an additional 173 shares during the period. Finally, First National Bank of Omaha increased its stake in Forward Air Corporation by 1.0% during the 2nd quarter. First National Bank of Omaha now owns 31,319 shares of the transportation company’s stock worth $1,669,000 after acquiring an additional 295 shares during the period. Hedge funds and other institutional investors own 96.20% of the company’s stock.

In other news, CAO Michael P. Mclean sold 15,718 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.05, for a total transaction of $802,403.90. Following the completion of the sale, the chief accounting officer now directly owns 20,559 shares in the company, valued at $1,049,536.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michael P. Mclean sold 2,495 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $52.00, for a total transaction of $129,740.00. Following the sale, the chief accounting officer now owns 20,880 shares of the company’s stock, valued at $1,085,760. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Forward Air Corporation (FWRD) opened at 53.53 on Thursday. The stock has a 50 day moving average price of $51.63 and a 200-day moving average price of $50.91. The firm has a market capitalization of $1.62 billion, a P/E ratio of 28.00 and a beta of 1.07. Forward Air Corporation has a 52 week low of $40.07 and a 52 week high of $56.52.

Forward Air Corporation (NASDAQ:FWRD) last posted its earnings results on Wednesday, July 26th. The transportation company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.06. The company had revenue of $267.50 million during the quarter, compared to analyst estimates of $256.98 million. Forward Air Corporation had a net margin of 5.68% and a return on equity of 13.31%. Forward Air Corporation’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. Analysts anticipate that Forward Air Corporation will post $2.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. Forward Air Corporation’s dividend payout ratio is currently 31.25%.

COPYRIGHT VIOLATION NOTICE: “Summit Global Investments Buys 800 Shares of Forward Air Corporation (FWRD)” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/14/summit-global-investments-buys-800-shares-of-forward-air-corporation-fwrd.html.

Several equities analysts have recently issued reports on FWRD shares. Cowen and Company reiterated a “hold” rating and issued a $51.00 price target on shares of Forward Air Corporation in a research note on Thursday, August 10th. Zacks Investment Research lowered Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Wolfe Research lowered Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Finally, BidaskClub downgraded Forward Air Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $51.25.

Forward Air Corporation 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.

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

Receive News & Stock 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 stocks with our FREE daily email newsletter.