ING Groep NV decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 95.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,339 shares of the transportation company's stock after selling 26,501 shares during the period. ING Groep NV's holdings in Old Dominion Freight Line were worth $222,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its stake in Old Dominion Freight Line by 1,575.9% in the 4th 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 buying an additional 1,361,397 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Old Dominion Freight Line by 24,499.9% in the 1st quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company's stock valued at $85,105,000 after purchasing an additional 512,293 shares in the last quarter. Menora Mivtachim Holdings LTD. acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $79,380,000. Northern Trust Corp grew its holdings in shares of Old Dominion Freight Line by 15.2% in the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock worth $349,952,000 after purchasing an additional 261,305 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in shares of Old Dominion Freight Line by 4,463.2% during the 1st quarter. DAVENPORT & Co LLC now owns 261,380 shares of the transportation company's stock worth $43,253,000 after purchasing an additional 255,652 shares in the last quarter. Institutional investors own 77.82% of the company's stock.
Old Dominion Freight Line Trading Down 0.6%
Old Dominion Freight Line stock traded down $0.87 during mid-day trading on Friday, hitting $144.46. 1,440,285 shares of the company's stock were exchanged, compared to its average volume of 2,003,047. Old Dominion Freight Line, Inc. has a fifty-two week low of $141.73 and a fifty-two week high of $233.26. The company has a quick ratio of 1.32, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $30.36 billion, a P/E ratio of 28.21, a PEG ratio of 3.35 and a beta of 1.24. The company's 50 day simple moving average is $160.64 and its 200-day simple moving average is $167.25.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $1.48 EPS. The company's revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.
Old Dominion Freight Line Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.
Analysts Set New Price Targets
ODFL has been the topic of a number of recent analyst reports. Benchmark restated a "hold" rating and issued a $102.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Robert W. Baird set a $148.00 price target on Old Dominion Freight Line and gave the stock a "neutral" rating in a research report on Monday. Stephens cut their price objective on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Truist Financial boosted their price objective on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Evercore ISI cut 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 investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of "Hold" and an average price target of $167.62.
Read Our Latest Stock Analysis on Old Dominion Freight Line
About Old Dominion Freight Line
(
Free Report)
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.
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