Amundi Decreases Stock Position in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Amundi has reduced its ownership in Old Dominion Freight Line, Inc. by 37.7%, now holding 443,364 shares valued at approximately $69 million as reported in its recent SEC filing.
• Old Dominion Freight Line reported earnings per share (EPS) of $1.27 for the last quarter, missing the consensus estimate of $1.29, while revenue decreased by 6.1% year-over-year.
• The company has declared a quarterly dividend of $0.28 per share, with the ex-dividend date set for September 3rd, representing an annualized dividend yield of 0.7%.

Amundi lessened its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 37.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,364 shares of the transportation company's stock after selling 268,443 shares during the period. Amundi owned approximately 0.21% of Old Dominion Freight Line worth $69,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federation des caisses Desjardins du Quebec raised its holdings in Old Dominion Freight Line by 596.3% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 38,135 shares of the transportation company's stock valued at $6,309,000 after buying an additional 32,658 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter worth about $441,000. Calton & Associates Inc. grew its position in shares of Old Dominion Freight Line by 25.6% in the 1st quarter. Calton & Associates Inc. now owns 1,790 shares of the transportation company's stock worth $296,000 after buying an additional 365 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Old Dominion Freight Line by 15.1% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,567 shares of the transportation company's stock valued at $259,000 after acquiring an additional 206 shares in the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of Old Dominion Freight Line by 315.5% during the first quarter. Vident Advisory LLC now owns 88,463 shares of the transportation company's stock valued at $14,636,000 after acquiring an additional 67,173 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research note on Thursday, July 31st. JPMorgan Chase & Co. decreased 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 note on Tuesday, July 8th. Barclays set a $155.00 price target on Old Dominion Freight Line and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Vertical Research raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a report on Thursday, July 31st. Finally, Baird R W raised Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus target price of $167.14.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded down $1.91 on Wednesday, reaching $146.31. The company's stock had a trading volume of 1,199,169 shares, compared to its average volume of 1,847,832. The stock's fifty day simple moving average is $156.27 and its 200-day simple moving average is $160.33. Old Dominion Freight Line, Inc. has a 1 year low of $140.71 and a 1 year high of $233.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $30.75 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 3.51 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period last year, the business posted $1.48 earnings per share. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio is presently 21.88%.

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.