Assenagon Asset Management S.A. Cuts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Assenagon Asset Management S.A. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 39.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,792 shares of the transportation company's stock after selling 4,375 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Old Dominion Freight Line were worth $1,124,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Paragon Advisors LLC increased its stake in Old Dominion Freight Line by 2.2% in the 1st quarter. Paragon Advisors LLC now owns 10,151 shares of the transportation company's stock worth $1,679,000 after acquiring an additional 219 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock valued at $514,000 after acquiring an additional 1,018 shares during the last quarter. City Holding Co. grew its holdings in shares of Old Dominion Freight Line by 1.1% in the first quarter. City Holding Co. now owns 7,104 shares of the transportation company's stock valued at $1,175,000 after purchasing an additional 75 shares in the last quarter. UMB Bank n.a. increased its position in Old Dominion Freight Line by 20.8% in the first quarter. UMB Bank n.a. now owns 888 shares of the transportation company's stock worth $147,000 after purchasing an additional 153 shares during the last quarter. Finally, Wedmont Private Capital increased its position in Old Dominion Freight Line by 2.5% in the first quarter. Wedmont Private Capital now owns 3,722 shares of the transportation company's stock worth $567,000 after purchasing an additional 90 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ODFL. Susquehanna decreased their target price on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. lowered their price objective on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Stephens reiterated an "overweight" rating and issued a $180.00 target price (down previously from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. Finally, Stifel Nicolaus cut their target price on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $176.50.

Old Dominion Freight Line Trading Down 1.7%

Shares of ODFL stock opened at $156.67 on Wednesday. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26. The firm has a market cap of $33.11 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 3.28 and a beta of 1.26. The company has a 50-day moving average of $159.58 and a two-hundred day moving average of $174.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company posted $1.34 EPS. Old Dominion Freight Line's revenue was down 5.8% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid 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 0.71%. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

About Old Dominion Freight Line

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.

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