CNB Bank Sells 133 Shares of Old Dominion Freight Line, Inc. $ODFL

CNB Bank lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,085 shares of the transportation company’s stock after selling 133 shares during the period. CNB Bank’s holdings in Old Dominion Freight Line were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in shares of Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 108 shares in the last quarter. Wayfinding Financial LLC bought a new position in Old Dominion Freight Line in the first quarter valued at about $39,000. Zions Bancorporation National Association UT acquired a new position in Old Dominion Freight Line during the first quarter worth about $39,000. Olde Wealth Management LLC acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $43,000. Finally, WPG Advisers LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at approximately $51,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $136.12 on Friday. The firm has a market cap of $28.61 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 3.21 and a beta of 1.19. 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 stock has a 50-day moving average price of $144.43 and a 200-day moving average price of $154.20. Old Dominion Freight Line, Inc. has a 1-year low of $133.69 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its 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). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business earned $1.48 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be 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 is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is presently 21.88%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Old Dominion Freight Line from $155.00 to $143.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Morgan Stanley dropped their target price 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. Raymond James Financial set a $160.00 price target on Old Dominion Freight Line and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Truist Financial raised their price objective on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 30th. Finally, Stephens cut their target price on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $161.90.

Old Dominion Freight Line 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.