APG Asset Management N.V. Has $2.68 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• APG Asset Management N.V. sold 5,058 shares of Old Dominion Freight Line, reducing its stake by 22.4%, leaving it with 17,499 shares valued at approximately $2.68 million.
• Old Dominion Freight Line's recent earnings report showed a miss in earnings per share, reporting $1.27 compared to the expected $1.29, with a revenue decline of 6.1% year-over-year.
• The company declared a quarterly dividend of $0.28 per share, with a yield of 0.7%, payable on September 17th to investors of record by September 3rd.

APG Asset Management N.V. cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 22.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,499 shares of the transportation company's stock after selling 5,058 shares during the period. APG Asset Management N.V.'s holdings in Old Dominion Freight Line were worth $2,680,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ODFL. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 79.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company's stock worth $430,006,000 after acquiring an additional 1,151,221 shares in the last quarter. Nuveen LLC acquired a new position in shares of Old Dominion Freight Line in the 1st quarter worth approximately $151,107,000. JPMorgan Chase & Co. boosted its holdings in shares of Old Dominion Freight Line by 45.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company's stock worth $402,002,000 after acquiring an additional 754,796 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Old Dominion Freight Line by 24,499.9% in the 1st quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company's stock worth $85,105,000 after acquiring an additional 512,293 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Old Dominion Freight Line by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company's stock worth $3,750,157,000 after acquiring an additional 416,097 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ODFL has been the topic of several recent analyst reports. The Goldman Sachs Group raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $190.00 to $200.00 in a report on Monday, June 2nd. Raymond James Financial reduced their price objective on Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. UBS Group reduced their price objective on Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Stifel Nicolaus reduced their price objective on Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. Finally, Morgan Stanley reduced their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $167.62.

Old Dominion Freight Line Trading Up 0.8%

NASDAQ ODFL traded up $1.27 during trading on Monday, reaching $150.97. 1,679,371 shares of the stock traded hands, compared to its average volume of 1,874,657. The firm has a market cap of $31.73 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 3.50 and a beta of 1.23. The stock's 50-day moving average price is $157.89 and its 200 day moving average price is $162.16. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a fifty-two week low of $140.91 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company 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 business's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.48 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Old Dominion Freight Line's payout ratio is 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.