Milestone Asset Management LLC Decreases Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Milestone Asset Management LLC lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 78.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,495 shares of the transportation company's stock after selling 8,980 shares during the quarter. Milestone Asset Management LLC's holdings in Old Dominion Freight Line were worth $413,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. D.A. Davidson & CO. raised its holdings in Old Dominion Freight Line by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock valued at $509,000 after buying an additional 55 shares during the last quarter. Evergreen Private Wealth LLC increased its position in Old Dominion Freight Line by 0.9% during the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock valued at $1,173,000 after purchasing an additional 59 shares during the period. Lido Advisors LLC increased its position in Old Dominion Freight Line by 3.2% during the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock valued at $340,000 after purchasing an additional 59 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in Old Dominion Freight Line by 5.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock valued at $206,000 after purchasing an additional 61 shares during the period. Finally, Kestra Private Wealth Services LLC increased its position in Old Dominion Freight Line by 0.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company's stock valued at $1,668,000 after purchasing an additional 62 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Down 0.9%

NASDAQ:ODFL traded down $1.54 during trading hours on Wednesday, hitting $161.49. 1,318,162 shares of the company traded hands, compared to its average volume of 1,652,711. 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 firm's 50-day simple moving average is $159.11 and its 200-day simple moving average is $179.05. 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 market cap of $34.13 billion, a PE ratio of 29.47, a PEG ratio of 2.89 and a beta of 1.31.

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 for the quarter, beating the consensus estimate of $1.14 by $0.05. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations 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 revenue was down 5.8% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 21.01%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of research analyst reports. Wells Fargo & Company set a $150.00 price target on Old Dominion Freight Line and gave the stock an "underweight" rating in a report on Thursday, April 24th. Jefferies Financial Group cut their price target on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. UBS Group cut their price target on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Stephens restated an "overweight" rating and set a $180.00 price target (down from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. Finally, Raymond James set a $185.00 price target on Old Dominion Freight Line and gave the stock an "outperform" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.