Allianz Asset Management GmbH Sells 4,636 Shares of Old Dominion Freight Line, Inc. $ODFL

Allianz Asset Management GmbH reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 22.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,766 shares of the transportation company’s stock after selling 4,636 shares during the quarter. Allianz Asset Management GmbH’s holdings in Old Dominion Freight Line were worth $2,559,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Old Dominion Freight Line by 48.7% during the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock valued at $514,000 after acquiring an additional 1,018 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Old Dominion Freight Line by 9.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company’s stock valued at $2,911,000 after acquiring an additional 1,529 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Old Dominion Freight Line by 5.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock valued at $1,507,000 after acquiring an additional 443 shares during the period. Golden State Wealth Management LLC raised its holdings in Old Dominion Freight Line by 29.0% during the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company’s stock valued at $395,000 after acquiring an additional 537 shares during the period. Finally, Wilkinson Global Asset Management LLC raised its holdings in Old Dominion Freight Line by 6.0% during the first quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company’s stock valued at $17,839,000 after acquiring an additional 6,133 shares during the period. 77.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ODFL. Truist Financial raised their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 30th. Evercore ISI decreased their price target on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Morgan Stanley cut their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Finally, UBS Group raised their price objective on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $161.90.

Old Dominion Freight Line Trading Up 0.2%

Shares of Old Dominion Freight Line stock opened at $136.12 on Friday. The firm has a market cap of $28.61 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 3.21 and a beta of 1.19. The business has a 50-day moving average price of $144.43 and a 200-day moving average price of $154.20. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 EPS. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors 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 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.88%.

About Old Dominion Freight Line

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.