The Manufacturers Life Insurance Company grew its stake in shares of Forward Air Corporation (NASDAQ:FWRD) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,271 shares of the transportation company’s stock after purchasing an additional 270 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Forward Air Corporation worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FWRD. Riverhead Capital Management LLC raised its holdings in shares of Forward Air Corporation by 72.5% during 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 during the period. Huntington National Bank raised its holdings in shares of Forward Air Corporation by 8.1% during 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. Quantbot Technologies LP acquired a new position in shares of Forward Air Corporation during the second quarter valued at about $117,000. US Bancorp DE raised its holdings in shares of Forward Air Corporation by 22.6% during 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 during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Forward Air Corporation during the second quarter valued at about $158,000. Hedge funds and other institutional investors own 98.38% of the company’s stock.

Several equities analysts have recently weighed in on FWRD shares. BidaskClub lowered shares of Forward Air Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. KeyCorp reissued a “hold” rating on shares of Forward Air Corporation in a research report on Friday, September 22nd. Robert W. Baird reissued a “hold” rating and set a $60.00 target price on shares of Forward Air Corporation in a research report on Friday, October 6th. Zacks Investment Research downgraded shares of Forward Air Corporation from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Finally, Stifel Nicolaus boosted their target price on shares of Forward Air Corporation from $47.00 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $55.33.

In other Forward Air Corporation news, Director George M. Lynch sold 1,640 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $57.00, for a total value of $93,480.00. Following the completion of the sale, the director now directly owns 12,383 shares of the company’s stock, valued at approximately $705,831. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Mclean sold 4,984 shares of the company’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 completion of the sale, the insider now directly owns 13,401 shares of the company’s stock, valued at $734,642.82. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Shares of Forward Air Corporation (NASDAQ:FWRD) opened at $55.53 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08. The company has a market cap of $1,660.10, a PE ratio of 24.35 and a beta of 1.20. Forward Air Corporation has a 52-week low of $43.88 and a 52-week high of $59.97.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 23rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Tuesday, November 21st. Forward Air Corporation’s payout ratio is presently 28.17%.

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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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