Exchange Traded Concepts LLC Cuts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Exchange Traded Concepts LLC trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 69.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,398 shares of the transportation company's stock after selling 7,605 shares during the period. Exchange Traded Concepts LLC's holdings in Old Dominion Freight Line were worth $562,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ODFL. Ritholtz Wealth Management raised its holdings in Old Dominion Freight Line by 25.5% in the 1st quarter. Ritholtz Wealth Management now owns 16,416 shares of the transportation company's stock worth $2,716,000 after acquiring an additional 3,336 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Old Dominion Freight Line by 9.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company's stock worth $2,911,000 after purchasing an additional 1,529 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new position in shares of Old Dominion Freight Line in the first quarter worth $4,911,000. Elevation Point Wealth Partners LLC raised its stake in shares of Old Dominion Freight Line by 14.5% in the first quarter. Elevation Point Wealth Partners LLC now owns 5,688 shares of the transportation company's stock worth $941,000 after purchasing an additional 722 shares during the last quarter. Finally, Marshall Financial Group LLC raised its stake in shares of Old Dominion Freight Line by 5.3% in the first quarter. Marshall Financial Group LLC now owns 10,169 shares of the transportation company's stock worth $1,682,000 after purchasing an additional 516 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded up $0.43 during mid-day trading on Friday, hitting $156.46. 2,545,790 shares of the company traded hands, compared to its average volume of 1,638,614. The stock's fifty day moving average price is $159.46 and its 200-day moving average price is $173.45. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. The firm has a market cap of $33.06 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 3.21 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. The business's quarterly revenue was down 5.8% compared to the same quarter last year. Research analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ODFL. The Goldman Sachs Group upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. JPMorgan Chase & Co. decreased their price target on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Barclays decreased their price target on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Evercore ISI decreased 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 research note on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price target for the company. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus price target of $176.10.

Old Dominion Freight Line Company Profile

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.