Baird Financial Group Inc. Has $18.74 Million Position in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Baird Financial Group Inc. reduced its holdings in Old Dominion Freight Line by 1.7%, owning 113,272 shares worth approximately $18.74 million at the end of the last quarter.
• Old Dominion Freight Line reported earnings of $1.27 per share, missing estimates, with revenue of $1.41 billion, indicating a 6.1% decrease year-over-year.
• The company declared a quarterly dividend of $0.28 per share, set to be paid on September 17th, with a yield of 0.7%.

Baird Financial Group Inc. trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,272 shares of the transportation company's stock after selling 1,984 shares during the period. Baird Financial Group Inc. owned about 0.05% of Old Dominion Freight Line worth $18,741,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after buying an additional 108 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Old Dominion Freight Line during the 1st quarter worth about $30,000. Zions Bancorporation National Association UT acquired a new position in shares of Old Dominion Freight Line during the 1st quarter worth about $39,000. Wayfinding Financial LLC acquired a new position in shares of Old Dominion Freight Line during the 1st quarter worth about $39,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Old Dominion Freight Line during the 1st quarter worth about $43,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Benchmark restated a "hold" rating and set a $102.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. UBS Group dropped their target price on shares of 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. Baird R W raised shares of Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Morgan Stanley dropped 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 report on Thursday, July 31st. Finally, Raymond James Financial dropped their target price on shares of 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. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $167.62.

Old Dominion Freight Line Stock Up 0.8%

Old Dominion Freight Line stock opened at $150.97 on Tuesday. The stock has a market cap of $31.73 billion, a P/E ratio of 29.49, a P/E/G ratio of 3.50 and a beta of 1.23. 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 twelve month low of $140.91 and a twelve month high of $233.26. The company's 50-day moving average price is $157.89 and its two-hundred day moving average price is $162.16.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share 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 the consensus estimate of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm's revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.