Forum Financial Management LP Lowers Holdings in Old Dominion Freight Line, Inc. $ODFL

Forum Financial Management LP cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,507 shares of the transportation company’s stock after selling 74 shares during the period. Forum Financial Management LP’s holdings in Old Dominion Freight Line were worth $245,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ODFL. Brighton Jones LLC lifted its holdings in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Old Dominion Freight Line by 48.7% in the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after purchasing an additional 1,018 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Old Dominion Freight Line by 5.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock worth $1,507,000 after purchasing an additional 443 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Old Dominion Freight Line by 17.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,273 shares of the transportation company’s stock worth $707,000 after acquiring an additional 632 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Old Dominion Freight Line by 11.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,205 shares of the transportation company’s stock worth $365,000 after acquiring an additional 225 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $136.73 on Tuesday. The company has a market cap of $28.74 billion, a P/E ratio of 26.71, a P/E/G ratio of 3.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The business’s 50 day moving average price is $144.15 and its 200-day moving average price is $153.96. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week 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 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company had revenue of $1.41 billion for 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%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 EPS. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be paid a $0.28 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.88%.

Analysts Set New Price Targets

ODFL has been the topic of several recent research reports. Citigroup decreased their price objective on Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Stephens decreased their price objective on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Evercore ISI decreased their price objective 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. TD Cowen decreased their price objective on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a report on Thursday, July 31st. Finally, Susquehanna upped their price objective on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $161.90.

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.