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Commerce Bank Has $795,000 Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Old Dominion Freight Line logo with Transportation background

Key Points

  • Commerce Bank reduced its stake in Old Dominion Freight Line by 35.0% during the first quarter, owning 4,803 shares worth approximately $795,000 after selling 2,586 shares.
  • Several large investors have made changes to their positions, with significant increases in holdings by T. Rowe Price Investment Management and Capital World Investors.
  • The company reported a quarterly earnings per share of $1.27, missing estimates, with a revenue decline of 6.1% year-over-year, and announced a quarterly dividend of $0.28 per share.
  • Looking to Export and Analyze Old Dominion Freight Line Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Commerce Bank decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 35.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,803 shares of the transportation company's stock after selling 2,586 shares during the period. Commerce Bank's holdings in Old Dominion Freight Line were worth $795,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in Old Dominion Freight Line by 234.8% in 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 in the last quarter. American National Bank & Trust bought a new stake in Old Dominion Freight Line during the 1st quarter valued at $30,000. Wayfinding Financial LLC acquired a new position in Old Dominion Freight Line during the 1st quarter worth $39,000. Itau Unibanco Holding S.A. grew its stake in shares of 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 worth $40,000 after purchasing an additional 192 shares in the last quarter. Finally, Olde Wealth Management LLC bought a new position in shares of Old Dominion Freight Line in the first quarter worth $43,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Down 0.6%

Old Dominion Freight Line stock traded down $0.87 during mid-day trading on Friday, hitting $144.46. The company's stock had a trading volume of 1,440,282 shares, compared to its average volume of 1,848,966. Old Dominion Freight Line, Inc. has a 52-week low of $141.73 and a 52-week high of $233.26. The company has a market cap of $30.53 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 3.45 and a beta of 1.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.32. The firm's 50 day moving average is $160.95 and its 200 day moving average is $167.57.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Old Dominion Freight Line's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.48 earnings per share. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Old Dominion Freight Line's dividend payout ratio is 21.88%.

Analysts Set New Price Targets

ODFL has been the subject of several research analyst reports. Stephens reduced their price objective on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Vertical Research raised shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. TD Cowen cut their target price on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a research report on Thursday, July 31st. Finally, Barclays set a $155.00 price target on Old Dominion Freight Line and gave the company an "equal weight" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus target price of $167.62.

View Our Latest Stock Analysis on Old Dominion Freight Line

Old Dominion Freight Line Company Profile

(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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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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