International Assets Investment Management LLC Decreases Position in Old Dominion Freight Line, Inc. $ODFL

International Assets Investment Management LLC cut its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,976 shares of the transportation company’s stock after selling 450 shares during the period. International Assets Investment Management LLC’s holdings in Old Dominion Freight Line were worth $483,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Benjamin Edwards Inc. raised its holdings in shares of Old Dominion Freight Line by 3.1% during 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. Brighton Jones LLC raised its holdings in shares of Old Dominion Freight Line by 5.3% during 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. Grimes & Company Inc. raised its holdings in shares of Old Dominion Freight Line by 6.5% during the second quarter. Grimes & Company Inc. now owns 1,451 shares of the transportation company’s stock valued at $236,000 after purchasing an additional 88 shares during the last quarter. Triumph Capital Management raised its holdings in shares of Old Dominion Freight Line by 7.0% during 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. Finally, Norden Group LLC raised its holdings in shares of Old Dominion Freight Line by 6.5% during the first quarter. Norden Group LLC now owns 1,508 shares of the transportation company’s stock valued at $250,000 after purchasing an additional 92 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research reports. Wolfe Research boosted their price objective on shares of Old Dominion Freight Line from $129.00 to $140.00 in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Morgan Stanley decreased their price objective on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Raymond James Financial set a $160.00 target price on shares of Old Dominion Freight Line and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Finally, TD Cowen cut their target price on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $163.86.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $144.36 on Wednesday. The firm has a 50 day moving average of $145.28 and a 200 day moving average of $154.48. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $30.34 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 3.33 and a beta of 1.19. Old Dominion Freight Line, Inc. has a 12-month low of $133.69 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly 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 revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

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.