Teachers Retirement System of The State of Kentucky Has $497,000 Position in Forward Air Corporation (NASDAQ:FWRD)

Teachers Retirement System of The State of Kentucky decreased its stake in Forward Air Corporation (NASDAQ:FWRD) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,450 shares of the transportation company’s stock after selling 900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Forward Air Corporation were worth $497,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FWRD. Ameritas Investment Partners Inc. bought a new position in Forward Air Corporation during the first quarter valued at $114,000. TrimTabs Asset Management LLC increased its position in Forward Air Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,482 shares of the transportation company’s stock valued at $118,000 after buying an additional 1,168 shares during the period. State of Alaska Department of Revenue increased its position in Forward Air Corporation by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 3,340 shares of the transportation company’s stock valued at $158,000 after buying an additional 30 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Forward Air Corporation during the first quarter valued at $206,000. Finally, Tudor Investment Corp ET AL bought a new position in Forward Air Corporation during the first quarter valued at $214,000. Hedge funds and other institutional investors own 98.36% of the company’s stock.

Shares of Forward Air Corporation (NASDAQ:FWRD) opened at 50.98 on Friday. Forward Air Corporation has a 12-month low of $40.07 and a 12-month high of $56.52. The firm has a 50-day moving average of $52.48 and a 200-day moving average of $50.55. The firm has a market cap of $1.54 billion, a P/E ratio of 26.66 and a beta of 1.06.

Forward Air Corporation (NASDAQ:FWRD) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. The company had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $256.98 million. Forward Air Corporation had a net margin of 5.68% and a return on equity of 13.31%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. On average, equities analysts forecast that Forward Air Corporation will post $2.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, August 23rd. Forward Air Corporation’s payout ratio is currently 31.25%.

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Several research firms recently weighed in on FWRD. BidaskClub downgraded shares of Forward Air Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Stifel Nicolaus upped their price target on shares of Forward Air Corporation from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Zacks Investment Research downgraded shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Wolfe Research downgraded shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 1st. Finally, Cowen and Company reiterated a “hold” rating and issued a $51.00 price objective on shares of Forward Air Corporation in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Forward Air Corporation presently has a consensus rating of “Hold” and a consensus target price of $51.25.

In other Forward Air Corporation news, CAO Michael P. Mclean sold 15,718 shares of Forward Air Corporation 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 transaction, the chief accounting officer now owns 20,559 shares in the company, valued at $1,049,536.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael P. Mclean sold 2,495 shares of Forward Air Corporation 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 transaction, the chief accounting officer now owns 20,880 shares of the company’s stock, valued at approximately $1,085,760. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,831 shares of company stock valued at $2,836,938. 2.40% of the stock is currently owned by company insiders.

About Forward Air Corporation

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)

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