Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 73.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,984 shares of the transportation company's stock after selling 10,908 shares during the period. Argus Investors Counsel Inc.'s holdings in Old Dominion Freight Line were worth $659,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ODFL. Norges Bank acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $494,916,000. T. Rowe Price Investment Management Inc. grew its holdings in Old Dominion Freight Line by 1,575.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after acquiring an additional 1,361,397 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $128,221,000. Raymond James Financial Inc. acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans grew its holdings in Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after acquiring an additional 573,586 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded down $2.23 during trading hours on Friday, reaching $160.18. 1,530,714 shares of the stock were exchanged, compared to its average volume of 1,640,330. The stock has a market cap of $33.85 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The firm's 50 day moving average is $159.30 and its 200 day moving average is $176.66.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Old Dominion Freight Line's quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 EPS. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. Old Dominion Freight Line's payout ratio is currently 21.01%.

Analyst Ratings Changes

Several research firms have commented on ODFL. UBS Group lowered their price target on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price target on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $190.00 to $200.00 in a report on Monday, June 2nd. Finally, Barclays lowered their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $176.50.

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.