Bessemer Group Inc. reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 97.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,741 shares of the transportation company's stock after selling 423,698 shares during the quarter. Bessemer Group Inc.'s holdings in Old Dominion Freight Line were worth $1,942,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. American National Bank & Trust purchased a new stake in Old Dominion Freight Line during the 1st quarter worth about $30,000. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $35,000. Itau Unibanco Holding S.A. lifted its position in Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after purchasing an additional 192 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $51,000. Finally, CoreCap Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock worth $60,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Robert W. Baird began coverage on shares of Old Dominion Freight Line in a report on Tuesday. They issued a "neutral" rating and a $164.00 price target on the stock. Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a research note on Wednesday, April 2nd. Benchmark reissued a "hold" rating and issued a $102.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Baird R W raised Old Dominion Freight Line to a "hold" rating in a research note on Tuesday. Finally, Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lowered their target price for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average price target of $174.55.
View Our Latest Stock Analysis on Old Dominion Freight Line
Old Dominion Freight Line Stock Performance
ODFL stock traded up $1.55 during mid-day trading on Wednesday, reaching $170.00. The company had a trading volume of 904,062 shares, compared to its average volume of 1,840,652. The stock's 50-day simple moving average is $160.94 and its two-hundred day simple moving average is $171.68. The stock has a market capitalization of $35.92 billion, a P/E ratio of 31.90, a P/E/G ratio of 3.35 and a beta of 1.25. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. Old Dominion Freight Line's revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 EPS. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.
Old Dominion Freight Line Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.
Old Dominion Freight Line Company Profile
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Free Report)
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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