Old Dominion Freight Line, Inc. $ODFL Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 759,576 shares of the transportation company’s stock after selling 111,404 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.36% of Old Dominion Freight Line worth $123,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ODFL. MASTERINVEST Kapitalanlage GmbH bought a new position in Old Dominion Freight Line during the 2nd quarter valued at $1,608,000. Cim Investment Management Inc. raised its stake in shares of Old Dominion Freight Line by 99.6% in the 2nd quarter. Cim Investment Management Inc. now owns 3,771 shares of the transportation company’s stock valued at $639,000 after purchasing an additional 1,882 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Old Dominion Freight Line during the second quarter worth about $283,000. Cim LLC grew its stake in Old Dominion Freight Line by 7.7% in the second quarter. Cim LLC now owns 7,610 shares of the transportation company’s stock worth $1,235,000 after purchasing an additional 543 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in Old Dominion Freight Line in the second quarter worth about $1,120,000. Institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several research reports. UBS Group upped their price objective on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Morgan Stanley raised Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $165.00 to $190.00 in a research report on Monday, December 8th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, December 3rd. Jefferies Financial Group lowered their target price on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating on the stock in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $154.48.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $159.49 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $209.61. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a fifty day moving average price of $139.81 and a 200 day moving average price of $149.58. The company has a market cap of $33.35 billion, a P/E ratio of 32.09, a PEG ratio of 4.16 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be given a $0.28 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio is 22.54%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.