Pacer Advisors Inc. Sells 6,070 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pacer Advisors Inc. decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 22.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,550 shares of the transportation company's stock after selling 6,070 shares during the period. Pacer Advisors Inc.'s holdings in Old Dominion Freight Line were worth $3,400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in Old Dominion Freight Line by 6.3% during the 1st quarter. Cetera Investment Advisers now owns 26,969 shares of the transportation company's stock worth $4,462,000 after acquiring an additional 1,597 shares during the period. Avantax Advisory Services Inc. raised its stake in Old Dominion Freight Line by 12.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,572 shares of the transportation company's stock worth $591,000 after acquiring an additional 404 shares during the period. One Wealth Advisors LLC raised its stake in Old Dominion Freight Line by 105.4% during the 1st quarter. One Wealth Advisors LLC now owns 4,626 shares of the transportation company's stock worth $765,000 after acquiring an additional 2,374 shares during the period. KLP Kapitalforvaltning AS raised its stake in Old Dominion Freight Line by 0.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 68,500 shares of the transportation company's stock worth $11,333,000 after acquiring an additional 300 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Old Dominion Freight Line during the 1st quarter worth approximately $4,885,000. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded down $2.20 on Tuesday, reaching $162.12. The company's stock had a trading volume of 2,771,632 shares, compared to its average volume of 1,359,537. The stock's fifty day simple moving average is $163.25 and its 200-day simple moving average is $169.39. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $34.26 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 3.31 and a beta of 1.25.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ODFL shares. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Stifel Nicolaus lifted their price objective on shares of Old Dominion Freight Line from $175.00 to $183.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a research report on Tuesday, July 1st. Finally, Raymond James Financial set a $185.00 price objective on shares of Old Dominion Freight Line and gave the company an "outperform" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $174.85.

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.