Hennion & Walsh Asset Management Inc. Trims Position in Old Dominion Freight Line, Inc. $ODFL

Hennion & Walsh Asset Management Inc. decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 41.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,504 shares of the transportation company’s stock after selling 6,847 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $1,338,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Stephens Inc. AR raised its stake in Old Dominion Freight Line by 0.7% during the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after acquiring an additional 67 shares during the last quarter. YANKCOM Partnership increased its holdings in shares of Old Dominion Freight Line by 9.1% in the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after purchasing an additional 68 shares during the period. Legacy Capital Wealth Partners LLC raised its stake in shares of Old Dominion Freight Line by 4.4% during the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after purchasing an additional 71 shares during the last quarter. iA Global Asset Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.3% during the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock worth $3,809,000 after purchasing an additional 72 shares during the period. Finally, STF Management LP grew its position in Old Dominion Freight Line by 2.4% in the 2nd quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock valued at $532,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of analyst reports. Wolfe Research set a $138.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday. Robert W. Baird set a $170.00 price target on shares of Old Dominion Freight Line in a report on Monday. Citigroup reaffirmed a “buy” rating and issued a $196.00 price objective (up previously from $170.00) on shares of Old Dominion Freight Line in a report on Wednesday. The Goldman Sachs Group cut their target price on Old Dominion Freight Line from $186.00 to $181.00 in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $159.46.

Old Dominion Freight Line Trading Up 3.2%

Shares of ODFL opened at $171.07 on Friday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $209.61. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $35.77 billion, a P/E ratio of 34.42, a PEG ratio of 8.02 and a beta of 1.27. The firm’s 50-day moving average is $147.97 and its two-hundred day moving average is $149.60.

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

Old Dominion Freight Line Announces Dividend

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

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.