Old Dominion Freight Line, Inc. $ODFL Shares Sold by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management Inc. reduced its stake in Old Dominion Freight Line by 29.5%, now holding approximately $18.8 million worth of shares after selling 47,700 shares in the first quarter.
• The company reported earnings of $1.27 per share, missing estimates by $0.02, and experienced a 6.1% decline in revenue compared to the same quarter last year.
• Old Dominion Freight Line recently announced a quarterly dividend of $0.28 per share, reflecting an annual yield of 0.7%.

Osterweis Capital Management Inc. lowered its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 29.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,908 shares of the transportation company's stock after selling 47,700 shares during the quarter. Osterweis Capital Management Inc. owned approximately 0.05% of Old Dominion Freight Line worth $18,846,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after acquiring an additional 79 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $368,000. NewEdge Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 2.7% during the fourth quarter. NewEdge Advisors LLC now owns 6,151 shares of the transportation company's stock valued at $1,085,000 after acquiring an additional 162 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Old Dominion Freight Line by 423.1% during the fourth quarter. Marshall Wace LLP now owns 7,229 shares of the transportation company's stock valued at $1,275,000 after acquiring an additional 5,847 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Old Dominion Freight Line by 12.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,241,553 shares of the transportation company's stock valued at $219,020,000 after acquiring an additional 141,612 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Up 6.3%

NASDAQ:ODFL traded up $9.38 during midday trading on Friday, reaching $159.13. The company had a trading volume of 1,962,314 shares, compared to its average volume of 2,233,569. The firm has a market capitalization of $33.44 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 3.47 and a beta of 1.24. 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 stock's fifty day simple moving average is $158.50 and its 200-day simple moving average is $164.71. Old Dominion Freight Line, Inc. has a 12-month low of $140.91 and a 12-month high of $233.26.

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

Old Dominion Freight Line Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ODFL shares. Vertical Research raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a report on Thursday, July 31st. Truist Financial increased their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a report on Monday, June 30th. Robert W. Baird set a $148.00 price target on Old Dominion Freight Line and gave the company a "neutral" rating in a report on Monday, August 4th. Bank of America increased their price target on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Susquehanna cut their price target on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and a consensus price target of $167.62.

Old Dominion Freight Line Company 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.