USS Investment Management Ltd Lowers Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

USS Investment Management Ltd decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 18.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,020 shares of the transportation company's stock after selling 8,923 shares during the period. USS Investment Management Ltd's holdings in Old Dominion Freight Line were worth $6,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Waverly Advisors LLC bought a new stake in Old Dominion Freight Line in the fourth quarter worth $504,000. Woodline Partners LP increased its holdings in shares of Old Dominion Freight Line by 163.3% in the fourth quarter. Woodline Partners LP now owns 122,716 shares of the transportation company's stock worth $21,647,000 after buying an additional 76,103 shares during the period. Sone Capital Management LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $5,333,000. Vident Advisory LLC boosted its holdings in Old Dominion Freight Line by 4.0% during the 4th quarter. Vident Advisory LLC now owns 21,290 shares of the transportation company's stock valued at $3,756,000 after acquiring an additional 823 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Old Dominion Freight Line by 104.6% during the 4th quarter. Squarepoint Ops LLC now owns 37,162 shares of the transportation company's stock valued at $6,555,000 after acquiring an additional 19,001 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Up 1.7%

ODFL traded up $2.76 on Tuesday, hitting $164.32. The company had a trading volume of 561,737 shares, compared to its average volume of 1,661,161. The stock has a fifty day simple moving average of $159.74 and a 200-day simple moving average of $181.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $34.72 billion, a P/E ratio of 30.01, a P/E/G ratio of 2.89 and a beta of 1.31. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced 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 during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 EPS. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.68%. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.01%.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of analyst reports. UBS Group decreased their price target 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. Wall Street Zen cut shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Truist Financial lowered their price target on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a "buy" rating and a $236.00 price target for the company. Finally, Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $182.26.

Old Dominion Freight Line Profile

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.