Neo Ivy Capital Management Sells 1,910 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Neo Ivy Capital Management reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 74.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 666 shares of the transportation company's stock after selling 1,910 shares during the period. Neo Ivy Capital Management's holdings in Old Dominion Freight Line were worth $117,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in Old Dominion Freight Line by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock worth $870,311,000 after purchasing an additional 96,410 shares in the last quarter. Norges Bank bought a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $494,916,000. Capital World Investors increased its holdings in Old Dominion Freight Line by 1.1% during the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock worth $442,784,000 after purchasing an additional 27,367 shares in the last quarter. Northern Trust Corp increased its holdings in Old Dominion Freight Line by 15.2% during 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 in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Old Dominion Freight Line by 13.6% in the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock worth $272,969,000 after buying an additional 185,500 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

ODFL has been the topic of a number of research analyst reports. Wall Street Zen downgraded Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. UBS Group cut their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Evercore ISI cut their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $182.26.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded down $3.00 during trading on Friday, hitting $159.01. 524,842 shares of the company were exchanged, compared to its average volume of 1,653,369. The company has a market cap of $33.60 billion, a PE ratio of 29.02, a P/E/G ratio of 2.89 and a beta of 1.31. The stock has a 50 day moving average of $159.58 and a 200 day moving average of $180.63. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

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 (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.34 earnings per share. As a group, equities research 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. Stockholders of record on Wednesday, June 4th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. Old Dominion Freight Line's payout ratio is currently 21.01%.

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.