Osterweis Capital Management Inc. Lowers Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Osterweis Capital Management Inc. has reduced its holdings in Old Dominion Freight Line by 29.5% in the first quarter, now owning 113,908 shares valued at approximately $18.8 million.
• Several institutional investors have recently increased or initiated positions in Old Dominion Freight Line, with overall institutional ownership reaching 77.82%.
• Old Dominion's stock has experienced a price target fluctuation among analysts, with an average rating of "Hold" and an average price target of $167.14.

Osterweis Capital Management Inc. lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 29.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,908 shares of the transportation company's stock after selling 47,700 shares during the quarter. Osterweis Capital Management Inc. owned 0.05% of Old Dominion Freight Line worth $18,846,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Larson Financial Group LLC raised its stake in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after buying an additional 108 shares during the last quarter. American National Bank & Trust purchased a new stake in Old Dominion Freight Line in the 1st quarter valued at about $30,000. Wayfinding Financial LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter valued at about $39,000. Zions Bancorporation National Association UT purchased a new stake in Old Dominion Freight Line in the 1st quarter valued at about $39,000. Finally, Olde Wealth Management LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ODFL. Bank of America boosted their target price on Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. UBS Group decreased their price target on Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Robert W. Baird set a $148.00 price target on Old Dominion Freight Line and gave the stock a "neutral" rating in a report on Monday, August 4th. Wall Street Zen upgraded Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company decreased their price target on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $167.14.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $149.40 on Friday. The stock has a market cap of $31.40 billion, a P/E ratio of 29.18, a price-to-earnings-growth ratio of 3.40 and a beta of 1.23. 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 has a 50 day moving average of $155.37 and a 200-day moving average of $160.01. Old Dominion Freight Line, Inc. has a 52 week low of $140.71 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate 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 net margin of 19.42% and a return on equity of 25.94%. The business's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.48 earnings per share. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio is 21.88%.

About Old Dominion Freight Line

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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