Ritholtz Wealth Management Decreases Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Ritholtz Wealth Management has reduced its holdings in Old Dominion Freight Line, Inc. by 22.2%, now owning 12,779 shares valued at approximately $2,074,000.
• In its latest quarterly earnings, Old Dominion reported an EPS of $1.27, missing the consensus estimate of $1.29, with revenues down 6.1% year-over-year.
• The company declared a quarterly dividend of $0.28 per share, representing an annualized dividend yield of 0.8%.

Ritholtz Wealth Management trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 22.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,779 shares of the transportation company's stock after selling 3,637 shares during the period. Ritholtz Wealth Management's holdings in Old Dominion Freight Line were worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission.

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

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $138.10 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. Old Dominion Freight Line, Inc. has a one year low of $133.69 and a one year high of $233.26. The company's 50-day simple moving average is $145.55 and its 200-day simple moving average is $154.95. The stock has a market capitalization of $29.02 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 3.19 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly 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). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business posted $1.48 EPS. The business's revenue for the quarter was down 6.1% on a year-over-year basis. Equities 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 business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.88%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, October 9th. Evercore ISI decreased their price objective on shares of Old Dominion Freight Line from $155.00 to $143.00 and set an "in-line" rating for the company in a research report on Tuesday, September 30th. The Goldman Sachs Group decreased their price objective on shares of Old Dominion Freight Line from $195.00 to $186.00 and set a "buy" rating for the company in a research report on Wednesday, October 8th. UBS Group upped their price objective on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Finally, Susquehanna upped their price objective on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and a consensus target price of $163.86.

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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