Trading Report: Today, Confluence Investment Management LLC decides to keep it stake in Forward Air Corp. (FWRD) to the level of $2,111,000

Today, Confluence Investment Management LLC decides to keep it stake in Forward Air Corp. (FWRD) to the level of $2,111,000

Confluence Investment Management LLC increased its position in Forward Air Corp. (NASDAQ:FWRD) by 7.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 48,808 shares of the company’s stock after buying an additional 3,435 shares during the period. Confluence Investment Management LLC owned about 0.16% of Forward Air Corp. worth $2,111,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in shares of Forward Air Corp. during the second quarter worth approximately $109,000. BlackRock Inc. boosted its position in Forward Air Corp. by 13.7% in the second quarter. BlackRock Inc. now owns 2,482 shares of the company’s stock worth $111,000 after buying an additional 300 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Forward Air Corp. during the second quarter worth about $134,000. Advisor Group Inc. acquired a new position in Forward Air Corp. during the second quarter worth about $156,000. Finally, PineBridge Investments L.P. boosted its position in Forward Air Corp. by 3.5% in the second quarter. PineBridge Investments L.P. now owns 3,861 shares of the company’s stock worth $172,000 after buying an additional 129 shares during the last quarter. 99.30% of the stock is owned by institutional investors and hedge funds.

Shares of Forward Air Corp. (NASDAQ:FWRD) traded down 0.02% during mid-day trading on Friday, hitting $49.14. The stock had a trading volume of 41,514 shares. The firm’s 50 day moving average price is $44.09 and its 200 day moving average price is $44.85. The company has a market cap of $1.50 billion, a P/E ratio of 39.41 and a beta of 1.02. Forward Air Corp. has a 1-year low of $36.00 and a 1-year high of $49.71.

Forward Air Corp. (NASDAQ:FWRD) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.51 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.51. Forward Air Corp. had a return on equity of 13.88% and a net margin of 3.92%. The company earned $249.60 million during the quarter, compared to analysts’ expectations of $250.36 million. During the same period in the prior year, the company earned $0.58 EPS. Forward Air Corp.’s revenue was up 1.0% compared to the same quarter last year. Analysts predict that Forward Air Corp. will post $2.06 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 23rd will be given a dividend of $0.15 per share. This is a positive change from Forward Air Corp.’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, November 21st. Forward Air Corp.’s dividend payout ratio (DPR) is currently 48.39%.

A number of research firms have issued reports on FWRD. Cowen and Company decreased their target price on Forward Air Corp. from $48.00 to $45.00 and set a “market perform” rating for the company in a research note on Friday, October 21st. TheStreet cut Forward Air Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. Finally, Zacks Investment Research cut Forward Air Corp. from a “hold” rating to a “sell” rating in a research note on Monday, September 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $49.00.

In related news, CAO Michael P. Mclean sold 14,779 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $46.01, for a total transaction of $679,981.79. Following the completion of the transaction, the chief accounting officer now directly owns 32,228 shares of the company’s stock, valued at approximately $1,482,810.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.35% of the company’s stock.

Forward Air Corp. Company Profile

Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling.

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