Ramirez Asset Management Inc. Sells 1,180 Shares of Old Dominion Freight Line, Inc. $ODFL

Ramirez Asset Management Inc. trimmed its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,905 shares of the transportation company’s stock after selling 1,180 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $958,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. boosted its holdings in Old Dominion Freight Line by 3.1% in the first quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock valued at $392,000 after acquiring an additional 71 shares during the last quarter. Brighton Jones LLC boosted its holdings in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares during the last quarter. Fortitude Advisory Group L.L.C. boosted its holdings in Old Dominion Freight Line by 5.4% in the first quarter. Fortitude Advisory Group L.L.C. now owns 1,558 shares of the transportation company’s stock valued at $258,000 after acquiring an additional 80 shares during the last quarter. Grimes & Company Inc. boosted its holdings in Old Dominion Freight Line by 6.5% in the second quarter. Grimes & Company Inc. now owns 1,451 shares of the transportation company’s stock valued at $236,000 after acquiring an additional 88 shares during the last quarter. Finally, Triumph Capital Management boosted its holdings in Old Dominion Freight Line by 7.0% in the second quarter. Triumph Capital Management now owns 1,357 shares of the transportation company’s stock valued at $220,000 after acquiring an additional 89 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

ODFL has been the topic of a number of research analyst reports. Stephens cut their price target 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. Jefferies Financial Group cut their price target on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday. Citigroup cut their price target 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. Vertical Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Thursday, July 31st. Finally, Susquehanna increased their price target 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 equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $164.09.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $141.28 on Friday. Old Dominion Freight Line, Inc. has a 12-month low of $133.69 and a 12-month high of $233.26. The business’s fifty day moving average is $146.54 and its 200 day moving average is $156.03. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock has a market cap of $29.69 billion, a P/E ratio of 27.59, a P/E/G ratio of 3.39 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 21.88%.

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.