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

Ritholtz Wealth Management trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,084 shares of the transportation company’s stock after selling 187 shares during the period. Ritholtz Wealth Management’s holdings in Old Dominion Freight Line were worth $2,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Savant Capital LLC raised its stake in shares of Old Dominion Freight Line by 9.1% in the fourth quarter. Savant Capital LLC now owns 828 shares of the transportation company’s stock worth $336,000 after purchasing an additional 69 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Old Dominion Freight Line by 20.8% in the 4th quarter. First Horizon Advisors Inc. now owns 702 shares of the transportation company’s stock worth $285,000 after buying an additional 121 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Old Dominion Freight Line by 1,093.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 585 shares of the transportation company’s stock worth $237,000 after buying an additional 536 shares during the last quarter. Merit Financial Group LLC lifted its stake in Old Dominion Freight Line by 31.3% during the 4th quarter. Merit Financial Group LLC now owns 755 shares of the transportation company’s stock valued at $306,000 after acquiring an additional 180 shares during the period. Finally, National Bank of Canada FI lifted its stake in Old Dominion Freight Line by 85.0% during the 4th quarter. National Bank of Canada FI now owns 84,231 shares of the transportation company’s stock valued at $33,502,000 after acquiring an additional 38,697 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ODFL. Robert W. Baird boosted their price objective on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Susquehanna decreased their price target on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, June 12th. Wells Fargo & Company started coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price objective on the stock. Morgan Stanley cut their target price on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Finally, Raymond James boosted their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $200.88.

Old Dominion Freight Line Trading Up 0.4 %

Shares of ODFL opened at $192.80 on Monday. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $227.80. The stock has a market cap of $41.89 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 3.76 and a beta of 1.00. The firm’s fifty day moving average is $192.56 and its two-hundred day moving average is $198.12. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $1.33 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts forecast 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 will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.90% of the company’s stock.

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.