Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. American National Bank & Trust purchased a new stake in Old Dominion Freight Line in the first quarter valued at $30,000. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at $35,000. Itau Unibanco Holding S.A. boosted its holdings in Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after purchasing an additional 192 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at $51,000. Finally, CoreCap Advisors LLC boosted its holdings in Old Dominion Freight Line by 98.2% in the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock valued at $60,000 after purchasing an additional 168 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 0.4%

Shares of NASDAQ ODFL opened at $160.33 on Friday. The company has a 50 day simple moving average of $158.79 and a 200-day simple moving average of $177.95. The company has a market capitalization of $33.88 billion, a P/E ratio of 29.26, a P/E/G ratio of 2.89 and a beta of 1.26. 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, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business's revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 EPS. On average, equities research analysts predict 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, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. Old Dominion Freight Line's payout ratio is currently 21.01%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ODFL. The Goldman Sachs Group raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and raised their price target for the company from $190.00 to $200.00 in a research note on Monday, June 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price target on the stock. UBS Group decreased their price target on shares of 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 decreased their price target on shares of 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, Stephens reaffirmed an "overweight" rating and issued a $180.00 price target (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.

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