Granite Investment Partners LLC Makes New Investment in Saia, Inc. $SAIA

by · The Cerbat Gem

Granite Investment Partners LLC acquired a new position in Saia, Inc. (NASDAQ:SAIA – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 51,641 shares of the transportation company’s stock, valued at approximately $14,149,000. Granite Investment Partners LLC owned approximately 0.19% of Saia as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in Saia in the second quarter worth approximately $5,115,000. M&T Bank Corp lifted its position in shares of Saia by 27.3% during the 2nd quarter. M&T Bank Corp now owns 5,660 shares of the transportation company’s stock valued at $1,550,000 after acquiring an additional 1,215 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Saia during the 2nd quarter worth $7,314,000. Neuberger Berman Group LLC grew its holdings in shares of Saia by 403.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 181,583 shares of the transportation company’s stock worth $49,752,000 after acquiring an additional 145,506 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Saia during the second quarter worth $103,599,000.

Saia Stock Up 4.1%

SAIA opened at $293.15 on Tuesday. The company has a market capitalization of $7.81 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 12.90 and a beta of 2.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.49 and a quick ratio of 1.49. Saia, Inc. has a fifty-two week low of $229.12 and a fifty-two week high of $581.12. The business has a 50-day moving average of $289.07 and a 200-day moving average of $289.34.

Saia (NASDAQ:SAIA – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.28. The firm had revenue of $839.64 million for the quarter, compared to the consensus estimate of $824.06 million. Saia had a return on equity of 12.42% and a net margin of 8.96%.The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.46 earnings per share. Equities research analysts forecast that Saia, Inc. will post 15.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SAIA. Rothschild Redb upgraded Saia to a “hold” rating in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Saia in a research note on Monday, November 24th. Zacks Research upgraded shares of Saia from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. Redburn Partners set a $262.00 target price on shares of Saia in a research report on Wednesday, November 26th. Finally, Evercore ISI reduced their price target on shares of Saia from $328.00 to $319.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, Saia has a consensus rating of “Moderate Buy” and an average price target of $330.10.

View Our Latest Research Report on SAIA

Insider Buying and Selling at Saia

In other news, VP Raymond R. Ramu sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $266.57, for a total transaction of $266,570.00. Following the transaction, the vice president owned 4,902 shares in the company, valued at approximately $1,306,726.14. This trade represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donna E. Epps acquired 422 shares of Saia stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average cost of $277.60 per share, with a total value of $117,147.20. Following the purchase, the director owned 1,852 shares in the company, valued at $514,115.20. The trade was a 29.51% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.30% of the company’s stock.

Saia Company Profile

(Free Report)

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.

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