Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 73.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,457 shares of the transportation company's stock after selling 106,067 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Old Dominion Freight Line were worth $6,086,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. American National Bank & Trust acquired a new position in shares of Old Dominion Freight Line during the first quarter worth about $30,000. Wayfinding Financial LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter worth about $39,000. Itau Unibanco Holding S.A. grew its position in shares of Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after buying an additional 192 shares in the last quarter. Olde Wealth Management LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter worth about $43,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $51,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ODFL shares. Wells Fargo & Company upped their price target on Old Dominion Freight Line from $150.00 to $160.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a report on Wednesday, April 2nd. Truist Financial upped their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a report on Monday, June 30th. Bank of America upped their price target on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Evercore ISI lowered their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $174.45.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL traded down $3.39 on Friday, reaching $167.73. The stock had a trading volume of 1,137,576 shares, compared to its average volume of 1,651,920. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.32 and a current ratio of 1.32. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26. The business's 50-day moving average price is $163.56 and its 200 day moving average price is $170.70. The stock has a market cap of $35.44 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 3.55 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the business earned $1.34 earnings per share. The company's quarterly revenue was down 5.8% compared to the same quarter last year. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's payout ratio is 21.01%.

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.