Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Lowered by ST. Nicholas Private Asset Management Inc.

Key Points

• ST. Nicholas Private Asset Management Inc. reduced its holdings in Old Dominion Freight Line, Inc. by 7.3%, bringing its total shares to 29,372, which represent approximately 4.6% of its overall portfolio.
• Old Dominion Freight Line reported a net margin of 19.42% and a revenue of $1.41 billion for the most recent quarter, falling short of analyst expectations.
• The company announced a quarterly dividend of $0.28 per share, reflecting a dividend yield of 0.7%, with a payout ratio of 21.88%.

ST. Nicholas Private Asset Management Inc. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,372 shares of the transportation company's stock after selling 2,323 shares during the quarter. Old Dominion Freight Line accounts for approximately 4.6% of ST. Nicholas Private Asset Management Inc.'s holdings, making the stock its 7th biggest holding. ST. Nicholas Private Asset Management Inc.'s holdings in Old Dominion Freight Line were worth $4,860,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Old Dominion Freight Line by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company's stock valued at $3,750,157,000 after purchasing an additional 416,097 shares during the period. Capital World Investors increased its position 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 valued at $442,784,000 after purchasing an additional 27,367 shares during the period. Northern Trust Corp increased its position 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 valued at $349,952,000 after purchasing an additional 261,305 shares during the period. First Trust Advisors LP increased its position in Old Dominion Freight Line by 13.6% during the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock valued at $272,969,000 after purchasing an additional 185,500 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in Old Dominion Freight Line by 1,575.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock valued at $255,390,000 after purchasing an additional 1,361,397 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $149.93 on Thursday. Old Dominion Freight Line, Inc. has a one year low of $141.73 and a one year high of $233.26. The company's 50-day moving average is $161.28 and its 200 day moving average is $167.87. The company has a market capitalization of $31.68 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 3.39 and a beta of 1.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.32 and a current ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period last year, the company posted $1.48 earnings per share. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.7%. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird set a $148.00 price objective on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a research report on Monday. Wells Fargo & Company reduced their price objective on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research report on Thursday, July 31st. Bank of America upped their target price on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. reduced their target price on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group reduced their target price on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $167.62.

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.

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