Central Bank & Trust Co. Sells 1,723 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Central Bank & Trust Co. trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 10.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,487 shares of the transportation company's stock after selling 1,723 shares during the quarter. Central Bank & Trust Co.'s holdings in Old Dominion Freight Line were worth $2,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of ODFL. AustralianSuper Pty Ltd acquired a new stake in Old Dominion Freight Line during the 4th quarter worth about $128,221,000. Blueshift Asset Management LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $630,000. Ameriprise Financial Inc. raised its holdings in shares of Old Dominion Freight Line by 2.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock valued at $223,281,000 after acquiring an additional 35,778 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Old Dominion Freight Line by 10.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,370 shares of the transportation company's stock valued at $3,946,000 after acquiring an additional 2,053 shares in the last quarter. Finally, Vest Financial LLC lifted its position in shares of Old Dominion Freight Line by 27.4% in the 4th quarter. Vest Financial LLC now owns 177,848 shares of the transportation company's stock valued at $31,372,000 after acquiring an additional 38,253 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 3.4%

Shares of NASDAQ ODFL traded down $5.78 during mid-day trading on Wednesday, reaching $162.11. 1,710,306 shares of the company traded hands, compared to its average volume of 1,640,019. The company's fifty day moving average is $158.88 and its two-hundred day moving average is $177.19. 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 fifty-two week low of $144.90 and a fifty-two week high of $233.26. The stock has a market cap of $34.26 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 2.89 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company posted $1.34 earnings per share. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 annualized dividend and a yield of 0.69%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ODFL shares. Truist Financial cut their target price on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a "buy" rating and a $236.00 price target on the stock. Stifel Nicolaus reduced their price objective on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Evercore ISI lowered 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. Finally, The Goldman Sachs Group raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and increased their price target for the stock from $190.00 to $200.00 in a research report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Old Dominion Freight Line currently has a consensus 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.