Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Optimal Asset Management Inc.

Optimal Asset Management Inc. decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 41.9% during the 1st quarter, Holdings Channel reports. The fund owned 3,041 shares of the transportation company’s stock after selling 2,192 shares during the quarter. Optimal Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $731,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GPS Wealth Strategies Group LLC acquired a new stake in Old Dominion Freight Line in the first quarter valued at approximately $28,000. Eudaimonia Partners LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth approximately $35,000. Vantage Consulting Group Inc acquired a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $39,000. Finally, Lindbrook Capital LLC raised its holdings in Old Dominion Freight Line by 181.0% during the first quarter. Lindbrook Capital LLC now owns 163 shares of the transportation company’s stock worth $39,000 after purchasing an additional 105 shares in the last quarter. 69.96% of the stock is currently owned by hedge funds and other institutional investors.

ODFL has been the topic of a number of research reports. Zacks Investment Research lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $268.00 target price on the stock. in a research report on Wednesday, June 23rd. Stephens raised their target price on shares of Old Dominion Freight Line from $240.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 7th. Vertical Research began coverage on shares of Old Dominion Freight Line in a research report on Friday, March 26th. They set a “hold” rating and a $220.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Old Dominion Freight Line from $224.00 to $250.00 and gave the company a “hold” rating in a research report on Thursday, April 29th. Finally, Wolfe Research lowered shares of Old Dominion Freight Line from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $246.24.

Shares of NASDAQ:ODFL opened at $254.41 on Thursday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.03. Old Dominion Freight Line, Inc. has a 1 year low of $176.34 and a 1 year high of $276.09. The stock has a market cap of $29.50 billion, a PE ratio of 40.36, a P/E/G ratio of 1.44 and a beta of 1.01. The business’s 50-day moving average price is $257.69.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, April 22nd. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.12. Old Dominion Freight Line had a return on equity of 23.32% and a net margin of 17.79%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business earned $1.11 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts expect that Old Dominion Freight Line, Inc. will post 7.99 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 16th. Shareholders of record on Wednesday, June 2nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Tuesday, June 1st. Old Dominion Freight Line’s dividend payout ratio is presently 14.08%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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