Hennion & Walsh Asset Management Inc. Sells 5,015 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 20.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,625 shares of the transportation company's stock after selling 5,015 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Old Dominion Freight Line were worth $3,247,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after acquiring an additional 79 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $291,000. E. Ohman J or Asset Management AB increased its position in shares of Old Dominion Freight Line by 8.9% during the fourth quarter. E. Ohman J or Asset Management AB now owns 8,550 shares of the transportation company's stock valued at $1,508,000 after buying an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Old Dominion Freight Line by 7.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,846 shares of the transportation company's stock valued at $12,718,000 after buying an additional 4,772 shares during the period. Finally, Choreo LLC increased its position in shares of Old Dominion Freight Line by 25.6% during the fourth quarter. Choreo LLC now owns 7,188 shares of the transportation company's stock valued at $1,273,000 after buying an additional 1,464 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

ODFL traded up $0.65 during midday trading on Friday, hitting $160.33. The stock had a trading volume of 1,232,644 shares, compared to its average volume of 1,641,209. The company has a market cap of $33.88 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 2.89 and a beta of 1.26. The business has a fifty day moving average of $158.79 and a 200 day moving average of $177.66. 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, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26.

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, beating analysts' consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 earnings per share. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ODFL shares. Evercore ISI decreased their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut their price objective on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company set a $150.00 price objective on Old Dominion Freight Line and gave the stock an "underweight" rating in a report on Thursday, April 24th. Truist Financial cut their price objective on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Susquehanna cut their price objective on Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. One 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 presently has a consensus rating of "Hold" and a consensus price target of $180.42.

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.