Hennion & Walsh Asset Management Inc. Cuts Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

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

Several other hedge funds also recently bought and sold shares of ODFL. Norges Bank bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $494,916,000. T. Rowe Price Investment Management Inc. raised its position in Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock valued at $255,390,000 after purchasing an additional 1,361,397 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $128,221,000. Raymond James Financial Inc. purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth about $114,449,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock valued at $210,856,000 after purchasing an additional 573,586 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 0.4%

Shares of ODFL traded up $0.65 during trading hours on Friday, reaching $160.33. 1,232,644 shares of the company traded hands, compared to its average volume of 1,644,814. Old Dominion Freight Line, Inc. has a 12 month low of $144.90 and a 12 month high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company's fifty day moving average price is $158.93 and its two-hundred day moving average price is $178.56. The company has a market capitalization of $33.88 billion, a price-to-earnings ratio of 29.26, a price-to-earnings-growth ratio of 2.89 and a beta of 1.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results 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 28.02% and a net margin of 20.40%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the business earned $1.34 EPS. The business's revenue for the quarter was down 5.8% on a year-over-year basis. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal 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 paid a $0.28 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.12 annualized dividend and a yield of 0.70%. Old Dominion Freight Line's payout ratio is 21.01%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company set a $150.00 target price on Old Dominion Freight Line and gave the stock an "underweight" rating in a research note on Thursday, April 24th. Evercore ISI reduced their target price on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their price target for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. Finally, Bank of America lifted their price objective on Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of "Hold" and a consensus target price of $180.42.

Old Dominion Freight Line 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.