Stock Yards Bank & Trust Co. Trims Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Stock Yards Bank & Trust Co. reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,737 shares of the transportation company’s stock after selling 6,635 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Old Dominion Freight Line were worth $9,533,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. increased its stake in Old Dominion Freight Line by 3.1% in the first quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock valued at $392,000 after purchasing an additional 71 shares during the last quarter. City Holding Co. increased its stake in Old Dominion Freight Line by 1.1% in the first quarter. City Holding Co. now owns 7,104 shares of the transportation company’s stock valued at $1,175,000 after purchasing an additional 75 shares during the last quarter. Brighton Jones LLC increased its stake in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares during the last quarter. Fortitude Advisory Group L.L.C. increased its stake in Old Dominion Freight Line by 5.4% in the first quarter. Fortitude Advisory Group L.L.C. now owns 1,558 shares of the transportation company’s stock valued at $258,000 after purchasing an additional 80 shares during the last quarter. Finally, Triumph Capital Management increased its stake in Old Dominion Freight Line by 7.0% in the second quarter. Triumph Capital Management now owns 1,357 shares of the transportation company’s stock valued at $220,000 after purchasing an additional 89 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $141.33 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $133.69 and a 1-year high of $233.26. The business has a 50-day moving average of $147.58 and a 200-day moving average of $156.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $29.70 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.28 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the company earned $1.48 EPS. Old Dominion Freight Line’s quarterly revenue was down 6.1% on a year-over-year basis. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is presently 21.88%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Baird R W upgraded Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Monday, August 4th. Truist Financial upped their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Evercore ISI dropped their price target on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, Barclays dropped their price target on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $166.52.

Old Dominion Freight Line Company 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.