Avanza Fonder AB Has $2.77 Million Stock Position in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Avanza Fonder AB reduced its holdings in Old Dominion Freight Line, Inc. by 18.3%, now owning 17,047 shares valued at approximately $2.77 million.
• The company reported earnings of $1.27 per share, missing analyst estimates of $1.29, with quarterly revenue down 6.1% year-over-year.
• Old Dominion Freight Line announced a quarterly dividend of $0.28 per share, reflecting a 0.8% yield and a payout ratio of 21.88%.

Avanza Fonder AB cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 18.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,047 shares of the transportation company's stock after selling 3,819 shares during the quarter. Avanza Fonder AB's holdings in Old Dominion Freight Line were worth $2,767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ODFL. Larson Financial Group LLC lifted its stake in Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after purchasing an additional 108 shares during the last quarter. American National Bank & Trust acquired a new stake in Old Dominion Freight Line in the 1st quarter worth about $30,000. Wayfinding Financial LLC acquired a new position in shares of Old Dominion Freight Line during the 1st quarter valued at about $39,000. Zions Bancorporation National Association UT purchased a new stake in Old Dominion Freight Line during the first quarter worth about $39,000. Finally, Olde Wealth Management LLC purchased a new position in Old Dominion Freight Line in the first quarter valued at approximately $43,000. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Down 1.4%

ODFL traded down $1.91 during trading on Monday, hitting $138.93. 2,093,078 shares of the stock were exchanged, compared to its average volume of 1,868,986. Old Dominion Freight Line, Inc. has a 1 year low of $138.65 and a 1 year high of $233.26. The firm has a market cap of $29.20 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 3.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a 50 day simple moving average of $151.88 and a 200 day simple moving average of $158.14.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 EPS. As a group, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Citigroup reduced their price target on Old Dominion Freight Line from $174.00 to $173.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. JPMorgan Chase & Co. dropped their target price on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Baird R W raised Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Eight research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of "Hold" and a consensus price target of $166.95.

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.