Scientech Research LLC Decreases Holdings in Old Dominion Freight Line, Inc. $ODFL

Scientech Research LLC trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 69.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,496 shares of the transportation company's stock after selling 12,532 shares during the quarter. Scientech Research LLC's holdings in Old Dominion Freight Line were worth $909,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. grew its position in Old Dominion Freight Line by 3.0% in the fourth quarter. Benjamin Edwards Inc. now owns 2,297 shares of the transportation company's stock worth $405,000 after acquiring an additional 67 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of Old Dominion Freight Line by 4.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company's stock worth $268,000 after purchasing an additional 71 shares in the last quarter. City Holding Co. grew its holdings in shares of Old Dominion Freight Line by 1.1% during the 1st quarter. City Holding Co. now owns 7,104 shares of the transportation company's stock worth $1,175,000 after purchasing an additional 75 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after purchasing an additional 79 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. lifted its position in shares of Old Dominion Freight Line by 5.4% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,558 shares of the transportation company's stock worth $258,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ODFL. Stephens reduced their price objective on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Stifel Nicolaus dropped their price objective on Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a report on Thursday, July 31st. UBS Group lowered 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. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Susquehanna decreased their price objective 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 analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of "Hold" and a consensus price target of $167.14.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL traded down $1.91 during midday trading on Wednesday, hitting $146.31. 1,199,169 shares of the company's stock were exchanged, compared to its average volume of 1,782,212. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a 12 month low of $140.71 and a 12 month high of $233.26. The company's 50 day moving average price is $155.80 and its 200 day moving average price is $160.23. The firm has a market capitalization of $30.75 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 3.44 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. As a group, analysts predict 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 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. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line's dividend payout ratio is presently 21.88%.

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.