Old Dominion Freight Line, Inc. (ODFL) Holdings Trimmed by Wasatch Advisors Inc.

Wasatch Advisors Inc. cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 787,442 shares of the transportation company’s stock after selling 12,401 shares during the period. Old Dominion Freight Line makes up approximately 1.2% of Wasatch Advisors Inc.’s investment portfolio, making the stock its 25th largest holding. Wasatch Advisors Inc. owned 0.96% of Old Dominion Freight Line worth $86,705,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ODFL. Janus Henderson Group PLC bought a new position in Old Dominion Freight Line during the second quarter worth about $266,855,000. William Blair Investment Management LLC lifted its holdings in Old Dominion Freight Line by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock worth $250,063,000 after acquiring an additional 191,911 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Old Dominion Freight Line by 8.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock worth $199,998,000 after acquiring an additional 157,362 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Old Dominion Freight Line by 8.5% during the second quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock worth $183,182,000 after acquiring an additional 151,407 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Old Dominion Freight Line by 229.7% in the second quarter. Russell Investments Group Ltd. now owns 167,617 shares of the transportation company’s stock valued at $15,965,000 after purchasing an additional 116,777 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) traded up $1.46 during trading hours on Tuesday, hitting $120.43. The company had a trading volume of 275,900 shares, compared to its average volume of 456,507. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9,800.00, a P/E ratio of 29.30, a P/E/G ratio of 1.74 and a beta of 1.20. Old Dominion Freight Line, Inc. has a twelve month low of $80.56 and a twelve month high of $124.13.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, October 26th. The transportation company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. The business had revenue of $872.99 million for the quarter, compared to the consensus estimate of $855.85 million. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. Old Dominion Freight Line’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. research analysts anticipate that Old Dominion Freight Line, Inc. will post 4.28 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Tuesday, December 5th. Old Dominion Freight Line’s dividend payout ratio is currently 9.85%.

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ODFL has been the topic of a number of research reports. BidaskClub lowered Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Deutsche Bank AG lowered 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 report on Monday, July 31st. Zacks Investment Research lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Buckingham Research initiated coverage on Old Dominion Freight Line in a report on Monday, August 21st. They issued a “neutral” rating and a $105.00 price target on the stock. Finally, Cowen and Company restated a “hold” rating and issued a $100.00 price target on shares of Old Dominion Freight Line in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $108.23.

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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