AQR Capital Management LLC Cuts Stock Position in Old Dominion Freight Line, Inc. $ODFL

AQR Capital Management LLC decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 42.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,669 shares of the transportation company's stock after selling 101,300 shares during the period. AQR Capital Management LLC owned about 0.06% of Old Dominion Freight Line worth $22,358,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ODFL. Brighton Jones LLC boosted its holdings in shares of 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 worth $275,000 after acquiring an additional 79 shares during the period. Triumph Capital Management bought a new stake in Old Dominion Freight Line during the fourth quarter valued at $204,000. Captrust Financial Advisors lifted its stake in Old Dominion Freight Line by 8.5% during the fourth quarter. Captrust Financial Advisors now owns 8,143 shares of the transportation company's stock worth $1,436,000 after purchasing an additional 641 shares during the last quarter. Cetera Investment Advisers lifted its stake in Old Dominion Freight Line by 1.2% during the fourth quarter. Cetera Investment Advisers now owns 25,372 shares of the transportation company's stock worth $4,476,000 after purchasing an additional 302 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its stake in Old Dominion Freight Line by 98.2% during the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock worth $60,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded down $1.91 during midday trading on Wednesday, hitting $146.31. The company had a trading volume of 1,199,169 shares, compared to its average volume of 1,782,212. Old Dominion Freight Line, Inc. has a 12-month low of $140.71 and a 12-month high of $233.26. 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 cap of $30.75 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 3.44 and a beta of 1.23. The company has a fifty day moving average of $155.80 and a two-hundred day moving average of $160.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The company's quarterly revenue was down 6.1% on a year-over-year basis. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stephens lowered their target price on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Morgan Stanley reduced their target price 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. Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the stock a "neutral" rating in a report on Monday, August 4th. Truist Financial boosted their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Finally, Susquehanna dropped their price target on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $167.14.

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.