OneAscent Wealth Management LLC Sells 480 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

OneAscent Wealth Management LLC trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 28.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,209 shares of the transportation company’s stock after selling 480 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ODFL. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $35,000. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp bought a new position in Old Dominion Freight Line during the 4th quarter valued at about $51,000. Versant Capital Management Inc raised its position in Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $69,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $164.85 on Friday. The company has a market capitalization of $35.04 billion, a PE ratio of 30.08, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a 50-day simple moving average of $182.63 and a two-hundred day simple moving average of $193.55. Old Dominion Freight Line, Inc. has a one year low of $157.67 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Analyst Upgrades and Downgrades

ODFL has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price target on the stock. Jefferies Financial Group boosted their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price objective for the company from $193.00 to $200.00 in a research report on Monday, February 24th. Finally, Morgan Stanley raised their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $201.40.

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.