Blair William & Co. IL Decreases Position in Old Dominion Freight Line, Inc. $ODFL

Blair William & Co. IL decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,725 shares of the transportation company’s stock after selling 347 shares during the period. Blair William & Co. IL’s holdings in Old Dominion Freight Line were worth $3,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ODFL. T. Rowe Price Investment Management Inc. boosted its position in shares of Old Dominion Freight Line by 79.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after buying an additional 1,151,221 shares during the period. Nuveen LLC purchased a new stake in shares of Old Dominion Freight Line in the first quarter worth about $151,107,000. JPMorgan Chase & Co. boosted its position in shares of Old Dominion Freight Line by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after buying an additional 754,796 shares during the period. Vanguard Group Inc. boosted its position in shares of Old Dominion Freight Line by 1.9% in the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after buying an additional 416,097 shares during the period. Finally, DAVENPORT & Co LLC boosted its position in shares of Old Dominion Freight Line by 4,463.2% in the first quarter. DAVENPORT & Co LLC now owns 261,380 shares of the transportation company’s stock worth $43,253,000 after buying an additional 255,652 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $136.18 on Tuesday. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $28.62 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 3.15 and a beta of 1.19. The business has a 50 day simple moving average of $146.23 and a 200-day simple moving average of $155.41.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. Old Dominion Freight Line’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 earnings per share. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 21.88%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ODFL shares. Citigroup decreased their target price on Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Stephens cut their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Baird R W upgraded Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. Vertical Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group cut their price target on Old Dominion Freight Line from $195.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $164.09.

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.