PAX Financial Group LLC Cuts Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

PAX Financial Group LLC trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,882 shares of the transportation company’s stock after selling 129 shares during the period. PAX Financial Group LLC’s holdings in Old Dominion Freight Line were worth $1,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in shares of Old Dominion Freight Line in the 4th quarter worth $35,000. Synergy Asset Management LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $41,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $51,000. Versant Capital Management Inc boosted its stake in shares of Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $69,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Down 8.4 %

ODFL opened at $155.75 on Friday. The stock has a market cap of $33.10 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm’s fifty day moving average is $180.59 and its 200 day moving average is $192.81. Old Dominion Freight Line, Inc. has a fifty-two week low of $150.37 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.72%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ODFL shares. Truist Financial assumed coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a “buy” rating and a $220.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Barclays cut their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Wednesday. StockNews.com lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. Finally, Bank of America lowered their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $199.70.

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.