Handelsbanken Fonder AB Sells 9,144 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Handelsbanken Fonder AB cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 7.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 108,343 shares of the transportation company's stock after selling 9,144 shares during the period. Handelsbanken Fonder AB owned approximately 0.05% of Old Dominion Freight Line worth $17,925,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Paragon Advisors LLC boosted its stake in Old Dominion Freight Line by 2.2% in the first quarter. Paragon Advisors LLC now owns 10,151 shares of the transportation company's stock valued at $1,679,000 after buying an additional 219 shares in the last quarter. GAMMA Investing LLC boosted its stake in Old Dominion Freight Line by 48.7% in the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock valued at $514,000 after buying an additional 1,018 shares in the last quarter. City Holding Co. boosted its stake in Old Dominion Freight Line by 1.1% in the first quarter. City Holding Co. now owns 7,104 shares of the transportation company's stock valued at $1,175,000 after buying an additional 75 shares in the last quarter. UMB Bank n.a. boosted its stake in Old Dominion Freight Line by 20.8% in the first quarter. UMB Bank n.a. now owns 888 shares of the transportation company's stock valued at $147,000 after buying an additional 153 shares in the last quarter. Finally, Wedmont Private Capital boosted its stake in Old Dominion Freight Line by 2.5% in the first quarter. Wedmont Private Capital now owns 3,722 shares of the transportation company's stock valued at $567,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ODFL. Jefferies Financial Group lowered their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Stifel Nicolaus reduced their target price on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company set a $150.00 target price on shares of Old Dominion Freight Line and gave the stock an "underweight" rating in a report on Thursday, April 24th. Stephens reissued an "overweight" rating and set a $180.00 target price (down from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They set a "buy" rating and a $236.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $176.50.

Old Dominion Freight Line Stock Up 0.2%

Shares of NASDAQ ODFL traded up $0.30 during midday trading on Thursday, hitting $162.41. 1,305,929 shares of the stock traded hands, compared to its average volume of 1,638,696. The company has a market cap of $34.32 billion, a PE ratio of 29.64, a P/E/G ratio of 2.89 and a beta of 1.27. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26. The business has a 50 day moving average price of $159.08 and a two-hundred day moving average price of $177.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data 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. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the company earned $1.34 earnings per share. The business's revenue was down 5.8% on a year-over-year basis. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date is Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

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.