AustralianSuper Pty Ltd Reduces Position in Old Dominion Freight Line, Inc. $ODFL

AustralianSuper Pty Ltd cut its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 24.5% during the second quarter, HoldingsChannel reports. The firm owned 409,137 shares of the transportation company’s stock after selling 132,598 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Old Dominion Freight Line were worth $66,403,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ODFL. Larson Financial Group LLC increased its position in shares of Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 108 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $39,000. Zions Bancorporation National Association UT purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $39,000. Olde Wealth Management LLC purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $43,000. Finally, Chilton Capital Management LLC purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $47,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Evercore ISI dropped their price objective on shares of Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 30th. Wolfe Research increased their target price on shares of Old Dominion Freight Line from $129.00 to $140.00 in a research report on Tuesday, October 7th. Baird R W raised shares of Old Dominion Freight Line to a “hold” rating in a research report on Tuesday, July 1st. UBS Group increased their target price on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Finally, Barclays dropped their target price on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $161.90.

Old Dominion Freight Line Trading Up 0.2%

NASDAQ ODFL opened at $136.12 on Monday. The company has a market capitalization of $28.61 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.22 and a beta of 1.19. The firm’s fifty day moving average price is $144.43 and its 200 day moving average price is $154.16. 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, Inc. has a 12 month low of $133.69 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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 business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is currently 21.88%.

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.