SG Americas Securities LLC Cuts Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

SG Americas Securities LLC lessened its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,817 shares of the transportation company’s stock after selling 37,813 shares during the quarter. SG Americas Securities LLC’s holdings in Old Dominion Freight Line were worth $31,228,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Old Dominion Freight Line by 14.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock worth $2,230,318,000 after buying an additional 1,761,511 shares during the period. State Street Corp grew its position in Old Dominion Freight Line by 0.9% during the fourth quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock valued at $1,214,618,000 after acquiring an additional 70,736 shares during the period. CIBC Private Wealth Group LLC increased its stake in Old Dominion Freight Line by 21.6% during the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock worth $614,764,000 after acquiring an additional 776,004 shares during the last quarter. Boston Partners increased its stake in Old Dominion Freight Line by 98.4% during the fourth quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock worth $648,186,000 after acquiring an additional 2,044,434 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in Old Dominion Freight Line by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company’s stock worth $577,137,000 after acquiring an additional 365,424 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the sale, the director directly owned 88,551 shares in the company, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $217.58 on Wednesday. The firm has a 50-day moving average of $218.05 and a two-hundred day moving average of $194.12. The stock has a market cap of $45.25 billion, a P/E ratio of 45.52, a PEG ratio of 4.41 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company earned $1.19 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 24.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ODFL. The Goldman Sachs Group reiterated a “buy” rating and set a $235.00 target price (up from $209.00) on shares of Old Dominion Freight Line in a report on Tuesday. Jefferies Financial Group raised their price target on shares of Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a report on Tuesday, June 9th. TD Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Stifel Nicolaus boosted their price objective on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Finally, Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $218.13.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.