Old Dominion Freight Line, Inc. $ODFL Shares Sold by Stock Yards Bank & Trust Co.

Key Points

• Stock Yards Bank & Trust Co. reduced its holdings in Old Dominion Freight Line by 10.1%, owning 58,737 shares valued at approximately $9.53 million after selling 6,635 shares in the second quarter.
• Old Dominion Freight Line reported an earnings per share (EPS) of $1.27, missing analyst estimates of $1.29, with a revenue of $1.41 billion, down 6.1% year-over-year.
• The company recently declared a quarterly dividend of $0.28, resulting in an annualized yield of 0.8% and a payout ratio of 21.88%.

Stock Yards Bank & Trust Co. decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,737 shares of the transportation company's stock after selling 6,635 shares during the period. Stock Yards Bank & Trust Co.'s holdings in Old Dominion Freight Line were worth $9,533,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Old Dominion Freight Line by 48.7% in the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock valued at $514,000 after purchasing an additional 1,018 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Old Dominion Freight Line by 9.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company's stock valued at $2,911,000 after purchasing an additional 1,529 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Old Dominion Freight Line by 5.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company's stock valued at $1,507,000 after purchasing an additional 443 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Old Dominion Freight Line by 29.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company's stock valued at $395,000 after purchasing an additional 537 shares during the last quarter. Finally, Wilkinson Global Asset Management LLC boosted its stake in shares of Old Dominion Freight Line by 6.0% in the first quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company's stock valued at $17,839,000 after buying an additional 6,133 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Up 0.5%

ODFL opened at $141.33 on Friday. The business's fifty day moving average is $147.58 and its two-hundred day moving average is $156.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $29.70 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.28 and a beta of 1.19. Old Dominion Freight Line, Inc. has a one year low of $133.69 and a one year high of $233.26.

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

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ODFL shares. TD Cowen decreased their price target on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating on the stock in a research note on Thursday, July 31st. Stifel Nicolaus decreased their price target on Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Morgan Stanley decreased their price target on Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Robert W. Baird set a $148.00 price target on Old Dominion Freight Line and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Truist Financial lifted their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $166.52.

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.

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