Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Position Trimmed by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 59.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,838 shares of the transportation company's stock after selling 7,102 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Old Dominion Freight Line were worth $853,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Hantz Financial Services Inc. boosted its position in shares of Old Dominion Freight Line by 3.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after acquiring an additional 55 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock worth $509,000 after acquiring an additional 55 shares during the last quarter. Evergreen Private Wealth LLC boosted its position in shares of Old Dominion Freight Line by 0.9% in the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock worth $1,173,000 after acquiring an additional 59 shares during the last quarter. Lido Advisors LLC lifted its position in Old Dominion Freight Line by 3.2% during the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock valued at $340,000 after buying an additional 59 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its position in Old Dominion Freight Line by 5.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock valued at $206,000 after buying an additional 61 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Up 0.3%

Shares of NASDAQ:ODFL traded up $0.47 during midday trading on Thursday, reaching $162.90. The company had a trading volume of 206,715 shares, compared to its average volume of 1,655,996. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The stock's fifty day moving average price is $159.74 and its 200-day moving average price is $181.11. The stock has a market capitalization of $34.42 billion, a P/E ratio of 29.72, a PEG ratio of 2.89 and a beta of 1.31. 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 issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The business 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 20.40% and a return on equity of 28.02%. The business's revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business 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 $0.28 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

Analyst Ratings Changes

A number of brokerages have weighed in on ODFL. Wall Street Zen cut shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Bank of America lifted their price target on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Stifel Nicolaus reduced their price target on shares of 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. Barclays reduced their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $182.26.

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.