Roosevelt Investment Group Inc. Sells 9,162 Shares of Old Dominion Freight Line, Inc. (ODFL)

Roosevelt Investment Group Inc. decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,493 shares of the transportation company’s stock after selling 9,162 shares during the quarter. Old Dominion Freight Line makes up about 1.6% of Roosevelt Investment Group Inc.’s investment portfolio, making the stock its 20th biggest holding. Roosevelt Investment Group Inc. owned 0.22% of Old Dominion Freight Line worth $17,381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ODFL. BlackRock Inc. boosted its holdings in Old Dominion Freight Line by 11,389.2% during the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock worth $462,150,000 after purchasing an additional 5,353,843 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Old Dominion Freight Line by 7.9% in the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after acquiring an additional 191,911 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Old Dominion Freight Line by 8.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock valued at $199,998,000 after acquiring an additional 157,362 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Old Dominion Freight Line by 8.5% in the second quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock valued at $183,182,000 after acquiring an additional 151,407 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Old Dominion Freight Line by 100.3% in the first quarter. AQR Capital Management LLC now owns 299,394 shares of the transportation company’s stock valued at $25,619,000 after acquiring an additional 149,951 shares during the last quarter. Institutional investors and hedge funds own 73.93% of the company’s stock.

Old Dominion Freight Line, Inc. (ODFL) traded down 0.054% during mid-day trading on Tuesday, hitting $101.915. 123,367 shares of the stock were exchanged. Old Dominion Freight Line, Inc. has a 52 week low of $66.33 and a 52 week high of $103.51. The company has a market capitalization of $8.40 billion, a PE ratio of 26.396 and a beta of 1.07. The stock’s 50-day moving average is $97.17 and its 200 day moving average is $91.51.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The firm had revenue of $839.90 million during the quarter, compared to analyst estimates of $824.68 million. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post $4.14 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 10.39%.

In related news, Vice Chairman David S. Congdon sold 575 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total value of $56,252.25. Following the transaction, the insider now directly owns 9,516 shares of the company’s stock, valued at approximately $930,950.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.00% of the stock is currently owned by insiders.

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ODFL has been the subject of a number of recent analyst reports. Credit Suisse Group reiterated an “outperform” rating and issued a $109.00 price target (up previously from $101.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 13th. They noted that the move was a valuation call. Deutsche Bank AG cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their price target for the company from $108.00 to $98.00 in a research note on Monday, July 31st. BidaskClub upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Tuesday, July 11th. Finally, Buckingham Research initiated coverage on shares of Old Dominion Freight Line in a research note on Monday, August 21st. They issued a “neutral” rating and a $105.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $99.20.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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

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