Forward Air Co. (FWRD) Stake Lowered by Cambiar Investors LLC

Cambiar Investors LLC lessened its holdings in Forward Air Co. (NASDAQ:FWRD) by 25.8% during the 1st quarter, Holdings Channel reports. The firm owned 48,706 shares of the transportation company’s stock after selling 16,895 shares during the period. Cambiar Investors LLC’s holdings in Forward Air were worth $3,153,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FWRD. O Shaughnessy Asset Management LLC acquired a new position in shares of Forward Air in the 4th quarter valued at $42,000. Bank of Montreal Can lifted its stake in shares of Forward Air by 13.2% in the 4th 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. Quantamental Technologies LLC acquired a new position in shares of Forward Air in the 4th quarter valued at $99,000. Parametrica Management Ltd acquired a new position in shares of Forward Air in the 1st quarter valued at $220,000. Finally, Amalgamated Bank acquired a new position in shares of Forward Air in the 4th quarter valued at $252,000. 98.05% of the stock is currently owned by institutional investors and hedge funds.

FWRD stock opened at $59.48 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.73 billion, a P/E ratio of 19.06 and a beta of 1.59. Forward Air Co. has a 12-month low of $51.54 and a 12-month high of $72.81.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The firm had revenue of $321.47 million for the quarter, compared to the consensus estimate of $324.22 million. Forward Air had a return on equity of 16.88% and a net margin of 6.92%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. On average, research analysts expect that Forward Air Co. will post 3.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be issued a $0.18 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.72 annualized dividend and a dividend yield of 1.21%. Forward Air’s dividend payout ratio is presently 23.08%.

In other Forward Air news, Chairman Bruce A. Campbell sold 8,240 shares of the company’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $65.20, for a total transaction of $537,248.00. Following the sale, the chairman now owns 93,732 shares in the company, valued at approximately $6,111,326.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Bruce A. Campbell sold 18,208 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $66.05, for a total value of $1,202,638.40. Following the sale, the chairman now owns 120,088 shares in the company, valued at approximately $7,931,812.40. The disclosure for this sale can be found here. Insiders sold a total of 33,161 shares of company stock worth $2,190,329 in the last quarter. Company insiders own 2.04% of the company’s stock.

FWRD has been the topic of several recent analyst reports. BidaskClub lowered Forward Air from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. ValuEngine lowered Forward Air from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Deutsche Bank boosted their price objective on Forward Air from $73.00 to $75.00 and gave the company a “buy” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target 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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Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

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