Candriam S.C.A. Decreases Stake in Old Dominion Freight Line, Inc. $ODFL

Candriam S.C.A. lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.1% in the 1st quarter, HoldingsChannel reports. The fund owned 15,106 shares of the transportation company’s stock after selling 1,323 shares during the period. Candriam S.C.A.’s holdings in Old Dominion Freight Line were worth $2,499,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Lido Advisors LLC increased its holdings in Old Dominion Freight Line by 3.2% in the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company’s stock worth $340,000 after acquiring an additional 59 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Old Dominion Freight Line by 1.4% in the 4th quarter. Integrated Wealth Concepts LLC now owns 4,531 shares of the transportation company’s stock worth $799,000 after acquiring an additional 63 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Old Dominion Freight Line by 3.0% in the 4th quarter. Benjamin Edwards Inc. now owns 2,297 shares of the transportation company’s stock worth $405,000 after acquiring an additional 67 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Old Dominion Freight Line by 4.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company’s stock worth $268,000 after acquiring an additional 71 shares during the last quarter. Finally, City Holding Co. increased its holdings in Old Dominion Freight Line by 1.1% in the 1st quarter. City Holding Co. now owns 7,104 shares of the transportation company’s stock worth $1,175,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $159.13 on Friday. The business has a 50 day moving average of $158.50 and a 200 day moving average of $164.71. The company has a market capitalization of $33.44 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 3.47 and a beta of 1.24. Old Dominion Freight Line, Inc. has a 1-year low of $140.91 and a 1-year high of $233.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 EPS. On average, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.7%. Old Dominion Freight Line’s payout ratio is presently 21.88%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Vertical Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Thursday, July 31st. Barclays set a $155.00 target price on Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Thursday, July 31st. Stephens reduced their target price on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Bank of America lifted their target price on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, TD Cowen reduced their target price on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $167.62.

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.