4,586 Shares in Forward Air Co. (FWRD) Acquired by Amalgamated Bank
Amalgamated Bank acquired a new position in shares of Forward Air Co. (NASDAQ:FWRD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,586 shares of the transportation company’s stock, valued at approximately $252,000.
Other large investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC acquired a new stake in shares of Forward Air during the fourth quarter worth $42,000. Bank of Montreal Can lifted its stake in shares of Forward Air by 13.2% during the fourth quarter. Bank of Montreal Can now owns 1,781 shares of the transportation company’s stock worth $98,000 after buying an additional 208 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Forward Air during the fourth quarter worth $99,000. Verition Fund Management LLC acquired a new stake in shares of Forward Air during the third quarter worth $219,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Forward Air during the third quarter worth $271,000. Institutional investors and hedge funds own 97.81% of the company’s stock.
In related news, Chairman Bruce A. Campbell sold 6,713 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $67.10, for a total transaction of $450,442.30. Following the completion of the transaction, the chairman now owns 120,088 shares of the company’s stock, valued at $8,057,904.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Chris C. Ruble sold 7,926 shares of the firm’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $65.12, for a total transaction of $516,141.12. Following the transaction, the chief operating officer now directly owns 31,489 shares of the company’s stock, valued at approximately $2,050,563.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,087 shares of company stock valued at $2,842,670. 2.04% of the stock is currently owned by corporate insiders.
Forward Air (NASDAQ:FWRD) last issued its earnings results on Thursday, February 7th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.12. Forward Air had a net margin of 6.97% and a return on equity of 16.97%. The firm had revenue of $356.60 million during the quarter, compared to analysts’ expectations of $347.16 million. During the same quarter last year, the company posted $0.65 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts anticipate that Forward Air Co. will post 3.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Thursday, March 7th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.72 annualized dividend and a dividend yield of 1.06%. Forward Air’s dividend payout ratio (DPR) is presently 23.08%.
Several research firms have recently commented on FWRD. Zacks Investment Research upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. ValuEngine upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Finally, BidaskClub upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $68.75.
TRADEMARK VIOLATION WARNING: This piece was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.thecerbatgem.com/2019/04/16/4586-shares-in-forward-air-co-fwrd-acquired-by-amalgamated-bank.html.
Forward Air 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).
Recommended Story: Trading Strategy Examples and Plans
Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.