Old Dominion Freight Line (ODFL) Stake Lowered by Securian Asset Management Inc

Securian Asset Management Inc reduced its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,033 shares of the transportation company’s stock after selling 488 shares during the quarter. Securian Asset Management Inc’s holdings in Old Dominion Freight Line were worth $1,295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Old Dominion Freight Line by 1.4% in the 2nd quarter. BlackRock Inc. now owns 6,415,315 shares of the transportation company’s stock worth $955,626,000 after acquiring an additional 88,236 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Old Dominion Freight Line by 24.6% in the 2nd quarter. Wells Fargo & Company MN now owns 734,540 shares of the transportation company’s stock worth $109,417,000 after acquiring an additional 145,041 shares in the last quarter. Northern Trust Corp lifted its holdings in Old Dominion Freight Line by 3.0% during the 2nd quarter. Northern Trust Corp now owns 589,434 shares of the transportation company’s stock worth $87,802,000 after buying an additional 17,339 shares in the last quarter. Morgan Stanley lifted its holdings in Old Dominion Freight Line by 107.1% during the 2nd quarter. Morgan Stanley now owns 473,609 shares of the transportation company’s stock worth $70,549,000 after buying an additional 244,948 shares in the last quarter. Finally, AGF Investments Inc. lifted its holdings in Old Dominion Freight Line by 3.3% during the 2nd quarter. AGF Investments Inc. now owns 463,007 shares of the transportation company’s stock worth $68,970,000 after buying an additional 14,709 shares in the last quarter. 72.75% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:ODFL opened at $120.61 on Tuesday. Old Dominion Freight Line has a 52-week low of $116.61 and a 52-week high of $170.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.92. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 0.70 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, October 25th. The transportation company reported $2.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.15. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. Old Dominion Freight Line had a return on equity of 22.13% and a net margin of 16.47%. On average, analysts expect that Old Dominion Freight Line will post 7.06 earnings per share for the current year.

Several research analysts have issued reports on ODFL shares. KeyCorp upped their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, July 2nd. BidaskClub downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Cowen upped their price objective on Old Dominion Freight Line from $145.00 to $156.00 and gave the stock a “market perform” rating in a report on Friday, July 27th. Buckingham Research upped their price objective on Old Dominion Freight Line from $155.00 to $162.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $146.58.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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